When a patent broker is contacted about finding a patent or portfolio for a buyer, the advantage to the buyer is that the broker can find as many as 250-500 patents in the right technology field, narrow them down to those that the patentees are willing to sell, and narrow that list even further to a prioritized list of the 10 or 12 most eligible patents. That would clearly be a time-consuming proposition if one were to attempt doing it in-house.
Once the right patent or patents have been identified, the patent broker commences negotiations and seals the deal. And working through a broker means the buyer can remain anonymous, generally lowering the purchase price and often limiting public knowledge, and thus provide competitors with strategic intelligence on the buyer’s company.
For the acquisition of a patent, a broker will usually charge a consulting fee with a success completion bonus.
Many patent owners do not know where to begin when they decide to sell or buy patents, because selling or buying patents is so different from other types of property transactions. To save themselves a great deal of valuable time, and to make sure they get the right price for their patent (if selling) and the right patent for their purposes (if buying), many businesses turn to a patent brokerage firm to enable a successful transaction.