Mind Over Matter
Selling intellectual property online
The good news: You've created a nifty new way to solve a
problem in your business, and you're sure countless other
businesses could benefit from knowing your solution. But here's
the problem: You've spent sleepless nights coming up with that
idea and are ready for some compensation.
In most cases, the majority of benefits derived from such
creations are lost by the creator. In a few cases, though, many
millions have been made by inventors-for example, Priceline.com
founder Jay Walker, whose idea for a "demand collection"
system that matched bargain hunters with surplus inventory gave
birth to a multibillion-dollar business (and a large fortune).
That's a rare exception, sure-but numerous Web-based
intellectual property exchanges could change that at any time. Have
an idea and these exchanges will give you a way to test the waters
for buyers without sacrificing control over the idea.
Content Continues Below
Which Web sites will eventually dominate this market? Certainly,
for now, the slickest is The Patent & License Exchange
(www.pl-x.com), but before
listing there, be sure to check out Intellectual Property Exchange
(www.ipei.co.jp/index-e.html)
and yet2.com.
Expect this marketplace to be fast-moving. What's true today
might not be true when this article is in your hands. Best advice:
If intellectual property captures your fancy, check out as many
exchanges as possible.
Robert McGarvey writes on business, psychology and management
topics for several national publications. To reach him online with
your questions or comments, e-mail rjmcgarvey@aol.com.