Chapter 14: Having a Plan to Profit from Your Patent

“If you build a better mousetrap, the world will beat a path to your door.” -Attributed to Ralph Waldo Emerson

The biggest issue that inventors face is not getting a patent; it’s finding a way to monetize their patent—that is, how to make money with it, how to profit from it, how to recoup their investment.

I believe the biggest reason for this is that they think the above quote is true! They believe that once they have the idea, and protect it, that the money will naturally follow.

As a result, they fail to have a plan to monetize their invention…

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