An invention or idea becomes valuable if a product or service is built or developed using this. Moreover, these inventions and ideas can also become an intangible asset once patented. Patented inventions are more valuable since assignees or patent owners have an exclusive ownership and rights on the patent. Another company or individual is not allowed to use the said patent without permission from the assignee.
With many inventions and ideas already existing – and more being constantly created – not all of these inventions have been utilised. The patent holders may choose to let these patents lay dormant or actively use them as a revenue stream. Patent licensing and sale are two ways to monetise on patents. Licensing provides a potential for a long-term revenue inflow while a patent sale only generates one-time revenue albeit a substantial one.