A patent business plan is designed to describe the type and nature of the patent you've developed and applied for, as well as to investigate the opportunities that lie in wait for its eventual commercialization. Is your patent a ripe target for purchase for licensing to specific companies that you've already identified? Talk about those businesses and their products/services sales that would benefit from your patent. Also highlight whether the patent has been approved or is in pending status, and the timeline you envision for full approval. Other items to cover:
• What competition does the patent face from comparables devices or technologies?
• How strong are the industries, in the current economy, into which your patent would be introduced?
• Do you need funding to help launch?
• If the patent does require some capital backing for you to commercialize it, how much?
Traditionally the business plan should also offer a 5-year revenue and expense projection but this sort of model will only apply to your business if the patent has a set market application (like a specific license agreement to a manufacturer) such that you know what income it will likely generate for you year over year. You can also prepare a simpler, stripped-down model that estimates profit and loss and shows any applicable use of funds instead. MasterPlans is your resource for patent business planning work. We have written for dozens of unique patents and patent-pending concepts since we got into business in 2002. Call today for a consultation. 877-453-2011
