An independent inventor is an inventor who creates inventions by himself. They often earn their income from selling or licensing the patents they get on their inventions. Independent inventors are distinguished from inventors who work for corporations. Inventors that work for corporations, such as research scientists, must normally assign their ownership rights to their inventions to corporations as a condition for their employment.

There are two main ways in which inventors can seek to profit from their inventions

1️⃣ Inventor-for-Royalties: If you are a typical inventor, you will want to license your invention and collect royalties, or even sell it outright to another person or entity.

2️⃣ Entrepreneurial Inventor: If you want to maintain control and you have a competitive business streak, you might wish to start a small business to produce your invention, and then market it yourself. In that case, you will need substantially more financing to develop, produce, and distribute your product.

Which method is best for your particular invention and goals? There is no "correct" answer. These different options will affect not only how you earn money, but also how much financing you will need in order to proceed. Your success at either method will likely depend on your personality, capital investment, and perhaps most importantly, the time that you are able to commit to running a business yourself.