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- Jan 19, 2016
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I don't know where you got this information from but all the ones I know from some friends who have patents that have been infringed they get like x% from all the profits made for life + you pay for the legal work.I wouldn’t spend upwards of $20k for a patent just to make sure I’m not infringing on another patent.
Let’s say you unknowingly infringe on a patent.
Best case: They don’t know/don’t care
Worst case: You get a cease and desist and stop selling for a few months while you alter your product to not infringe.
At some point you gotta hit the gas if you wanna get on the highway.
I mean sure if it's a kid from his mom basement cease and desist but if it's an actual business ripping you off you're going to go after them and get your piece of cake, two examples where this happened was one an engineer had patented a new kind of mobile scaffold, the other one was some techonlogy related to antennas, they got their exact patented product produced by other companies without permission and they got paid really well for it.
You need one good patent to live off of it, I won't disclose the product but something we've all used at least once in life was patented by a man we worked for, he sold his patent like 30 years ago and in the deal there was like some % he'd still be taking every year, he takes so much that he has actually never worked a day in his life and rn he's enjoying having a dog breeding business which is low stress on the hills out of town.
He never produced his product apart from prototypes he just approached some companies until he found one that believed in his idea and they went through with it.