Patents offer multiple monetization opportunities for entrepreneurs:
1. Licensing: Entrepreneurs can license their patents to other companies in exchange for royalties, providing a steady stream of income. 2. Selling the Patent: Selling a patent outright can generate immediate capital, which can be reinvested into the business. 3. Using Patents as Collateral: Patents can be used to secure loans, providing necessary funding for business expansion. 4. Enhancing Market Position: Patents can strengthen a business's market position by preventing competitors from entering the same space.