An entrepreneur with an issued patent and pending application related to barcode retailing technology engaged The Hutter Group to assist in selling his patent rights to the highest bidder. Prior to contacting J, the inventor had engaged a patent broker to shop his rights. This patent broker obtained a substantial offer for the patent rights, but the entrepreneur wanted Jackie to validate the offer.
Jackie’s review indicated that the broker offered the patent rights to a single buyer. Moreover, the patent broker would obtain a 25 % commission just for calling a friend in the patent buying business.
To ensure the price offered to the entrepreneur was the best available, The Hutter Group reached out to its extensive network of IP monetization professionals to develop a realistic valuation for the patent rights and to obtain the highest price available for the entrepreneur’s patent rights. We were able to provide the entrepreneur with a “reality-based” understanding of his rights in the market so that he could make an informed decision as to whether he should sell his rights at that time or wait until the market for his patented technology further evolved.