For Subscribers

Mind Over Matter

Selling intellectual property online

By Robert J. McGarvey

Opinions expressed by Entrepreneur contributors are their own.

The good news: You've created a nifty new way to solve aproblem in your business, and you're sure countless otherbusinesses could benefit from knowing your solution. But here'sthe problem: You've spent sleepless nights coming up with thatidea and are ready for some compensation.

In most cases, the majority of benefits derived from suchcreations are lost by the creator. In a few cases, though, manymillions have been made by inventors-for example, Priceline.comfounder Jay Walker, whose idea for a "demand collection"system that matched bargain hunters with surplus inventory gavebirth to a multibillion-dollar business (and a large fortune).

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Business News

This OnlyFans Star Was Once Part of a Fanatical MLM Cult. "I Was Forced Into Celibacy."

Cami Strella was lured into a multilevel marketing scheme but escaped to start her own six-figure-a-month business.

Living

Invest in Yourself: 10 Things Every Working Woman Should Do This Year

When striving for success, it is easy to forget about your mental and physical health. But without health, you cannot fully succeed. Follow these ten lifestyle strategies for success in your personal and professional life.

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.

Business News

'Completely Absurd': The Average U.S. Male Can't Fit Into Universal Studio's New 'Blatantly Fatphobic' Mario Kart Ride

Mario Kart: Bowser's Challenge formally opens to the public as a part of Super Nintendo World inside of Universal Studios Hollywood on February 17.

Business Ideas

55 Small Business Ideas To Start Right Now

To start one of these home-based businesses, you don't need a lot of funding -- just energy, passion and the drive to succeed.