How to Buy Patent Rights

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You can buy patent rights by notifying the United States Patent and Trademark Office (USPTO) and filing the proper forms, including a patent assignment. The USPTO only requires that the name of the original inventor be maintained, as well as the name of the person who purchased the rights.

Find and Buy Patent Rights For Sale

Have the inventor or owner of the patent assign a whole or partial interest in the patent by filing a patent assignment with the USPTO. Assignment forms are available at any branch of the USPTO or you can download them from the official Web site (see Resources below).

Hire a patent attorney or patent agent to conduct the transaction. Ask them to estimate the potential value of the patent, and to verify that all parties have filled the proper paperwork.

Pay all fees for filing and maintenance and make sure the name of the original inventor or patent holder remains on the licensing agreement for the benefit of any future buyers. Confirmation of the entire process should arrive no more than three months from the filing date.

Search for specific patent rights that are being offered for sale on any Web sites that feature patent exchanges and auctions. Many of these sites specialize in certain types of patents. For example, the company called New Idea Trade specializes in technological patents (see Resources below).

Warnings

  • After purchasing the rights to any patents, make sure you know the appropriate schedule for paying all maintenance fees on time. Failure to do so can result in the forfeit of all rights to the patent.

Tips

  • The United States Patent and Trademark Office recommends the use of patent attorneys and patent agents to guide inventors through the patenting process, especially when the rights to a patent are being bought or sold. The USPTO maintains a registry of these individuals on their Web site.