patent monetization

Patent monetization is the process of turning a patent—an exclusive legal right to an invention—into revenue. This can be done by licensing the patent to others who want to use the invention, selling the patent outright, or creating products that leverage the patent. Essentially, it's about leveraging intellectual property to generate profits without necessarily manufacturing or directly commercializing the invention oneself. Companies and inventors do this to maximize the economic value of their innovations, turning their ideas into financial returns through various strategic arrangements.