The very first thing you should do is look carefully at the patent and find out can this patent really describe the same my idea does. If not, or otherwise exactly, you'll want to consult a patent lawyer to see if you are able to patent surrounding this existing patent and get reasonable protection.
But what if someone else patented your idea exactly? You need to verify if the product is available. Check the internet and stores to ascertain if you can find it. If not, try to contact names or company in patent. Inquire further when they are selling their product or if perhaps they've licensed their patent. 97% of patents never make money, there is actually a good chance that they aren't selling or haven't licensed this system.
Before we go further, we have to speak about why 97% of patents never generate income. Large corporations submit an application for and receive many patents which they never want to pursue or aren't sure that they'll pursue, which makes up about point about this 97%. There are also patent trolls who submit an application for patents to later sue others, that also accounts for point about this number. But the major reason that most patents don't earn money is because it is not easy to bring an item to advertise. Inventors who don't search for help may have an especially hard time because so many inventors work great about discovering creative new ways of doing things but are really bad at operating a business or finding out how to generate a sales network. So if a patented idea didn't generate income, that will not suggest the concept is detrimental. Most likely the business behind the thought was run poorly or even the product wasn't formulated and packaged in a fashion that would excite customers. This will be significant to consider and there's great instance of this below.
So if the inventor or company listed in the patent says they aren't selling the merchandise no body else has licensed the thought, inform them that you might be thinking about licensing the thought from their website. Before you agree to anything, make sure you have inked study. You must know in the event the market opportunity is very large enough to aid the product and if men and women notice the method is the answer (if you want assist with this, we can offer you Consulting or Invention Evaluations). In the event the product gets the potential, start licensing negotiations with them. It really is impossible to express in an article what terms to exercise, because if the thought is nearly able to bring to market, you need to pay them back more, when the idea is just on paper, you should pay them less.