Do as much research as you can. Check if your idea is active now because most of the inventors and companies get patents, but abandon their patents later because they don't know how to utilize them. IP licensing is other option, which allows you to develop the technologies further and manufacture innovative products.

1. My idea has existing
patents
What I can do now?

2. When an idea is
discovered, dreams
and hopes of building
innovative products
and successful
businesses also born
along with.

3. It feels like you
are hit by a
wall of bricks
when you find
existing
patents on
your idea.

4. DON’T GIVE UP
You still have various options to monetize your idea

5. Study your idea
Do in-depth research
on different elements
of your idea, and
identify the existing
patents.

6. 1. Check if the patents are still active
Most of the innovators
and businesses get
patents, but don’t know
the right IP
commercialization
strategy or have tried,
but failed. They end up
abandoning their
patents. Thus, you can
use the inactive
patents.

7. FOR EXAMPLE
Catherine Hettinger is the
inventor of Fidget Spinner. She
obtained patent, but couldn’t find
the commercialization partner. As
a result, she abandoned her
patent. Later, the idea was picked
by Chinese manufacturers, and
they developed its modern
versions.

8. 2. For active patents, check IP protection
area
 If patents are protected in foreign
country/region
A patent is a territorial right applicable in
the country/region in which it is granted. If
you find patents of your idea in a foreign
country/region only, you are free to use
the patented technologies, build
commercialization strategy, manufacture,
market and distribute products in your
country/region.

9. 2. For active patents, check IP protection
area
 If patents are protected in your
country/region
Patent Licensing is a kind of permission
from the IP holder to use his intellectual
property. You can obtain IP license for the
existing patents to use them in the way
you want. Also, you can further develop
them, and bring innovative products in the
market.

10. 3. Do Market Analysis
Do a comprehensive
study on all the elements
of your idea, and different
segments and market
verticals of the claims of
the patents. If you get
some unique elements in
your idea, develop them
further, do IP search and
file the application.

11. Thank You