Selling Policy - Patent Monetize

Buying & selling a patent refers to the acquisition of ownership rights for an existing patent from its current owner, either by direct purchase or in the form of licensing. This transaction involves a transfer of ownership, with the buyer obtaining the exclusive rights outlined in the patent of the seller.

1. Listing Process:

To list your patent, proceed to the “list your patent” section on the platform.
Include information about the required documentation, such as patent details, research reports, and any legal agreements, to streamline the listing process.

2. Transaction Fees:

The transaction fees associated with buying and selling or licensing patents on Patent Monetize will be shared via emails after initiation of the process.

3. Payment Methods:

The accepted payment methods for transactions include direct bank
transfers and online payment gateways.

4. Patent Valuation:

Patent valuation is executed by a quantitative approach which uses numerical and economic data and a qualitative approach where the analysis of the potential
uses of the intellectual property is done considering Income, cost, and market.

5. Negotiation and Agreements:

To consider negotiations between buyers and sellers, we offer one-to-one meetings to facilitate discussions, offers, and agreements. We prioritize transparent communication for successful transactions.

6. Verification and Due Diligence:

Before entering into an agreement or contract with another party, the platform will confirm the basics like ownership, validity and scope of the patent. Additionally, due diligence to make informed decisions by estimating market potential,
competition and freedom to operate. The specifics of due diligence will vary depending on the situation.

7. Intellectual Property Transfer:

Through a signed IP transfer agreement which includes details such as the parties involved, a description of the IP, transfer price, representations and warranties, and any conditions precedent.

8. Transaction Records:

Platform assures that detailed transaction records will be maintained for their reference. Users can access and review their transaction history on the platform by
logging in to their profile and viewing their dashboard of the registered applications.

Step-by-Step Process for Listing a Patent on Patent Monetize:

Stage 1

Step 1: Registration and Account Creation

Begin by registering on the Patent Monetize platform. Create a user account by providing necessary information and completing the account verification process.
Step 2: Account Verification
Verify your account through the provided authentication methods to ensure eligibility for listing patents on the platform. This will include basic information about the inventor with the ID verification, and patent-related information like patent verification.

Step 3: Listing the Patent & Portfolio on the Platform

List all the available patents & Patent portfolios on the platform. Fill out comprehensive details about the patent you intend to list. Include information such as the patent number, title, description, and any unique selling propositions (USPs).

Step 4: Submit for Review

Submit your patent listing for review by the platform. The review process involves a verification of the provided information, ensuring accuracy and compliance with platform standards.

Step 5: Approval and Activation

Upon successful review, your patent listing will be approved, and the listing will be activated on the Patent Monetize platform.

Step 6: Get potential buyers/sellers/investors

We Obtain a list of prospective investors or companies that are interested in your invention. This can assist in reaching out to those who may be interested in investing in or partnering with your venture. This list will include detailed information about each prospect, such as their industry focus, investment history, and current projects etc.

Stage 2

Step 6: Upload Supporting Documentation

Attach necessary supporting documentation, including research reports, market analysis, evidence of use, and any other relevant materials that enhance the value of your patent. Gather relevant and detailed information about the patent, including its abstract, claims, prior art, prosecution history, and any licensing-related information.

Step 7: Patent Valuation & Other Reports Preparation.

Keep your reports handy, such as Patent Valuation, Market Research, and Presentation Preparation to show your unique selling proposition. If applicable, utilize tools or services provided by Patent Monetize to determine the valuation of your patent. This step involves an algorithmic assessment or consultation with experts. Patent Monetize provides personalized patent reports, valuation, market and financial analysis, and more, for clients
lacking comprehensive reports on their patents. Charges to avail these services vary accordingly.

Step 8: Signing the Agreement

After documents preparation, sign the agreement along with a consent letter for searching the potential buyers on your behalf. The ultimate stage of the process involves the endorsement of the letter of consent, NDA, or agreement, thereby completing the formalities. At this point, we will undertake the responsibility for executing the necessary steps.

Step 9: Agree with Charges and Commission

There is specific charges for searching and negotiation with potential buyers and once the patent is licensed or sold then commission on complete amount. To execute a transaction seamlessly, we need to find the right investor and finalize the deal within our secure platform. We set realistic pricing or royalty rates by consulting with the relevant authorities.

Stage 3

Step 10: Finalizing Potential Buyer and Term Sheet

Patent Monetize finds potential buyers or sellers and accordingly setup the meeting, negotiation with terms, Royalty and all other terms and conditions required in the process. Patent Monetize prepare all required Terms sheet, Agreements take care of all the Legal and economical compliances for smooth process.

Step-by-Step Process for Report Preparation on Patent Monetize:

Step 1: Access Report Preparation Section

Step 2: Select Report Type

Choose the type of report you need, whether it’s Patent Valuation, Market Research, Infringement Search, Evidence of Use, or Presentation Preparation.

Step 3: Provide Patent Details

Enter the necessary details about the patent for which you require the report. Include the patent number, title, and any other relevant information in detail.

Step 4: Upload Supporting Documents

Attach any supporting documents that will assist in the report preparation process. This will include existing research, patent specifications, or additional materials.

Step 5: Choose Service Options

Select the specific services you require, such as comprehensive patent valuation, detailed market research, thorough infringement search, evidence of use analysis, or preparation of professional presentations.

Step 6: Get Details and Pricing

You will receive all the information like specifications and pricing of the service to review and confirm to move further. We ensure transparency in the pricing structure, and imply to the terms and conditions for report preparation.

Step 7: Submit Request

Submit your request for report preparation. The platform will acknowledge the request and provide an estimated timeline for the completion of the report.

Step 8: Communication with Experts

Engage in communication with experts assigned to your report preparation. Address any queries they may have and provide additional information if required for a comprehensive analysis.

Step 9: Review and Approval

Review the completed report draft. If satisfied, approve the report for finalization. If revisions are needed, communicate with the experts for necessary adjustments.

Step 10: Access and Download Report

Once the report is finalized and approved, access and download the completed report from the platform. This report will be valuable for patent valuation, market insights, or any other specific purpose.

Patent Listing Policy for Patent Monetize:

Introduction: The Patent Listing Policy on Patent Monetize outlines the guidelines and procedures that users must adhere to when listing their patents on the platform. This policy ensures a transparent, fair, and secure environment for patent holders, buyers, and the platform itself.

Eligibility Criteria:

Registration and Account Creation: Begin by registering on the Patent Monetize platform. Create a user account by providing necessary information and completing the account verification process.
Account Verification: To list a patent, users must have a verified account on Patent Monetize. Account verification will involve identity checks to establish the legitimacy of users.
Compliance with Platform Policies: Users must comply with all platform policies, terms of service, and legal requirements. Any violation may result in the rejection of patent listings.

Listing Process:

Navigate to log in- Access Patent Listing Portal, logged-in Seller can access the patent listing portal within the platform.
Complete Patent Details: Provide comprehensive details about the patent, including the patent number, title, description, and any unique selling propositions (USPs).
Upload Supporting Documentation: Attach supporting documents, such as research reports, market analysis, and evidence of use, to enhance the value of the patent.
Patent Valuation: Optionally, users can utilize tools or services provided by Patent Monetize to determine the valuation of their patents.
Agree to Terms and Conditions: Review and agree to the terms and conditions outlined by Patent Monetize for listing patents.
Submit for Review: Submit the patent listing for review. The platform will verify the provided information for accuracy and compliance.

Approval and Activation:

Review Process: The platform will review the submitted patent listing, ensuring it meets the platform’s standards.
Approval and Activation: Upon successful review, the patent listing will be approved, and the listing will be activated on the Patent Monetize platform.

Ongoing Responsibilities:

Update Information: Users are responsible for updating patent information if there are changes or developments during the listing period.
Communication with Potential Buyers: Respond promptly to inquiries from potential buyers and maintain transparent communication throughout the listing duration.
Compliance with Legal Standards: Ensure that the listed patent complies with all legal standards and does not infringe on the intellectual property rights of others.

Prohibited Content:

No Misrepresentation: Patents must be accurately represented, and users are prohibited from providing false or misleading information.
No Infringing Content: Users cannot list patents that infringe on the intellectual property rights of others. The platform reserves the right to take down listings that violate this rule.
No Prohibited Goods or Services: Listings for patents related to prohibited goods or services, as defined by the platform’s policies, are not allowed.

Consequences of Policy Violations:

Warnings and Notifications: Violations of the patent listing policy may result in warnings or notifications to users.
Listing Removal: In cases of severe violations, the platform reserves the right to remove the patent listing.
Account Suspension or Termination: Repeated or severe violations may lead to the suspension or termination of the user’s account on Patent Monetize.

Appeals and Dispute Resolution:

Appeals Process: Users have the right to appeal decisions related to their patent listings. The platform will provide an appeal process for fair resolution.
Dispute Resolution Mechanism: In cases of disputes between users, the platform offers a dispute resolution mechanism to facilitate fair and amicable resolutions.

Continuous Improvement:

Feedback Mechanism: Users are encouraged to provide feedback on the patent listing process. This feedback contributes to the continuous improvement of the platform’s listing policies and procedures.

Cancellation / Deactivation of Account

1. Introduction:

The Cancellation / Return Policy on Patent Monetize is designed to provide clear guidelines and procedures for users regarding the cancellation of transactions and the potential return of intellectual property assets. This policy aims to ensure transparency, fairness, and a positive user experience on the platform.

2. Eligibility for Cancellation / Return:

Misrepresentation: If the listed patent significantly differs from the information provided by the seller.
Undisclosed Issues: Discovery of undisclosed issues or defects in the patent that were not evident during the listing.
Legal Non-Compliance: If the listed patent is found to infringe on the intellectual property rights of others, leading to legal complications.

3. Timelines for Cancellation / Return Requests:

Users must submit cancellation or return requests within a specified timeframe from the date of the transaction. The platform will define different timelines based on the nature of the request.

4. Submission of Cancellation / Return Requests:

Users have to submit cancellation or return requests through the designated channels provided by Patent Monetize. This includes a dedicated email address, or contact through the support & helpdesk section from the platform.

5. Evaluation Process:

Each cancellation or return request undergoes a thorough evaluation by the platform. This evaluation includes:
- Review of Supporting Documents: Any evidence provided by the user to support their request of cancellation.
- Communication with Involved Parties: Conversations with both the buyer and seller are conducted in order to acquire supplementary information.

6. Grounds for Approval:

Cancellation or return requests may be approved based on the validity of the grounds provided. Approval may be granted if the platform determines that the user is justified in seeking cancellation or return.

7. Communication of Decision:

The platform communicates the decision on the cancellation or return request to both the buyer and the seller. This includes details about the approval, denial, or any conditions attached to the request.

8. Conditions for Approval:

If a request is approved, the platform will specify certain conditions, such as the return of the intellectual property asset in its original state or adherence to specific timelines for the process.

9. Return of Payments:

In cases where a return is approved, the platform outlines the process for the return of payments to the buyer. This will involve a refund through the original payment method. Cancellation charges may be applicable.

10. Legal Implications:

The cancellation/return policy is designed to comply with applicable laws and regulations. Users are encouraged to seek legal advice if they believe their situation involves complex legal implications.

11. Appeals Process:

Users have the right to appeal decisions related to cancellation or return requests. The platform provides an appeal process to ensure fair and thorough consideration of user concerns.

12. Continuous Improvement:

Feedback from users regarding the cancellation / return process is actively sought. This feedback contributes to continuous improvement in the platform’s policies and procedures.

13. Dispute Resolution Mechanism:

We offer a dispute resolution mechanism to facilitate fair and amicable resolutions. In case of disputes arising from the cancellation/return process, contact “+91-9818858137” and report the problem.

14. No Abuse of Policy:

Users are reminded that the cancellation/return policy is intended for genuine cases of misrepresentation, undisclosed issues, or legal non-compliance. Abuse of the policy may lead to consequences, including account suspension.

15. Transparency and Communication:

The platform maintains transparency throughout the cancellation/return process, providing clear communication to all involved parties. This includes regular updates on the status of the request and any decisions made.