Expert: George H. Morgan, P.E., Patent Agent - 5/11/2011

Question
Dear George,

I know how to find a patent, but where do I find out if the patent issued resulted in actually making money for the inventor?  Is there a public record for the sale of patent or licensing rights?

Here's the background.  I want to enter a patent application but before I do, I want to know the outcomes for already approved patents in the same field.  So, if I enter a patent application and the patent is approved, what is the likelihood the patent will result in income?

Thank you

Answer
Assignments usually are recorded and listed on the front page of the posted patent. That may be a clue.

You are being prudent to first establish whether or not a patent will profit you. People are usually not that interested in buying a patent. They want to buy finished products. If it is in a field in which you have considerable experience and contacts, that helps.

But, for an inventor of something outside of his field of experience (i.e. employment, career, or serious hobby) the odds are virtually impossible. It does happen, such as the invention of a 15 year old farm boy, while plowing his father's field, named Farnsworth, color television.

But, if it is an improvement in a product you saw at WalMart, the odds are very difficult.

My web site, http://www.evansville.net/biz/patagent has a lot of free information on it you might find helpful.

Avoid all the professional invention "help" firms or invention marketing firms, as they tend to be scams. Some of which advertise on Allexperts' site. I have complained about this, but Allexperts blames it on Google.  The web site, www.rjriley.com has considerable information on the matter.

By the way, one of my clients says it is okay for individual consumers to use this, but in his generic solution for eliminating harmful emissions of Nitrous Oxide and Carbon Monoxide, for a vehicle with a gasoline engine and a catalytic converter also results in improved engine performance and up to 30% improvement in miles per gallon. RE www.YouTube.com (search for "John Mullinix and Emissions") and also www.Ai@online.com for the published article in the May 2011 issue of Automotive Industries. The AI article mentions the improvement in the mileage, while the You Tube TV news clip only covers the emissions reductions.  Hope that helps all you readers. Tell all your friends. The Nissan engines get the emissions reductions, but not the mileage improvement, as they have a moisture control sensor that seems to work against it.
We are trying to get a buzz going while we are talking to the refineries, EPA, and the car builders.