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Frequently Asked Questions

How Quickly can Patents be Bought/Sold?

IP Prism's Advantages for Patent Owners:

  • A Seller’s cumulative time commitment (after registering for payment transactions) from adding a listing to completing a sale should be under 10 minutes
  • IP Prism’s bulk upload lets Sellers upload a file identifying hundreds of patent listings in under a minute
  • After pre-processing, a new listing from the bulk upload is added every ~10 seconds
  • IP Prism emails the Seller when listings are live
  • Sellers receive emails when their counter-signature is required, and contract execution is handled online

IP Prism's Advantages for Patent Buyers:

  • Securing a brand-new patent can take years and hundreds of hours of time commitment, while sales through IP Prism’s marketplace takes days and minutes of time commitment (after one-time registering for payment transactions)
  • Because IP Prism has capped the time (from 3 calendar days for an NDA and 10 days for a Sales Agreement) that Sellers have to counter-sign the sale is completed within 2 weeks
  • Compare this to the years it can take and the hundreds of hours of effort to secure a brand-new patent

Why Should I Not Just Pursue/Maintain My Own Patents?

IP Prism's Advantages for Patent Owners:

  • US maintenance fees need to be paid for a patent to stay enforceable, and these fees total more than $13,000
  • Sometimes, entities’ business priorities shifted over the years, making some patents less valuable
  • Often, patent budgets are limited, so paying maintenance fees means that there is less budget to protect new inventions
  • IP Prism’s marketplace supports a situation where a patent owner can avoid paying one or more maintenance fees, can earn money through the sale, and can hrough the sale, and can to practice the invention

IP Prism's Advantages for Patent Buyers:

  • For a new patent application, there is no guarantee that the Examiner will allow it to issue as a patent, but each IP Prism listing includes at least one issued patent
  • Claims are very frequently revised through examination, meaning that the claim scope is questionable for new filings, whereas claims of issued patents for sale on IP Prism have been granted
  • Securing a brand-new patent can take years and hundreds of hours of time commitment, while sales through IP Prism’s marketplace takes days and minutes of time commitment

How does IP Prism Handle Patent-Sale Payments?

IP Prism's Advantages for Patent Owners:

  • A Buyer’s payment is collected before request for counter-signing a Sales Agreement is sent to the Seller
  • Payment is handled by seamlessly integrating with a trusted third-party payment handler (Stripe®)

IP Prism's Advantages for Patent Buyers:

  • After a payment account is set up, paying is easy and fast (via Stripe®)
  • If a Seller does not timely sign a contract, the Buyer’s payment is automatically refunded
  • Payment is handled by seamlessly integrating with a trusted third-party payment handler (Stripe®)