Sharing Daily Discoveries About Personal Finance And Business Topics

Living Off Money From Patents

internet learning and business

I was at a seminar yesterday and one of the topics that came up was about making patents and how even if you don’t want to be the person who actually executes the idea, just thinking them up can generate people a lot of wealth.

I was then reading up about an individual named Ronald Katz who owns over 50 different patents with most of them consisting of technology patents that businesses use everyday. As a result, he generates billions of dollars licensing out his patents.

While this is not exactly the same, just by reading this it almost sounds like a person who just sits down while trying to think of the best domain names to register and then hoping that someone will pay top dollars for it. I can only assume that trying to patent an idea requires more financial investment, but it sure puts it in perspective when people say you just have to be the first to think of it.

It definitely made me more curious to learn more about the industry and process though.




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