{"id":5013,"date":"2016-04-04T10:47:53","date_gmt":"2016-04-04T15:47:53","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/intellectual-property\/patent-profit-faq.html"},"modified":"2024-05-22T02:47:14","modified_gmt":"2024-05-22T07:47:14","slug":"patent-profit-faq","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/intellectual-property\/patent-profit-faq.html","title":{"rendered":"How To Profit From Your Patent"},"content":{"rendered":"\n
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How To Profit From Your Patent<\/h1>\n
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\n By Taylar-Simone McCants, J.D.<\/a> | Legally reviewed by Amber Sheppard, Esq.<\/a>\n | Last updated\n
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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n

After spending so much time developing a unique invention, you are ready to profit from it. You can make money from your invention in two ways. Some inventors start a new business to make, market, and sell their inventions. Most inventors get a patent and then license or assign the rights to the invention to another entity.<\/p>\r\n

While you may want to hurry and start the commercialization of your invention, there are steps to take before you begin. This article will help give you an overview of what you can patent and how you can profit from it.<\/p>\r\n

Intellectual Property Law Overview<\/h2>\r\n

The first step is establishing and protecting your intellectual property rights<\/a> (IP rights). A small-business owner, a startup venture, a nonprofit, or an entrepreneur can protect original ideas. Intellectual property protections safeguard your invention from others copying or exploiting your work.<\/p>\r\n

There are four different types of intellectual property:<\/p>\r\n