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In this episode of The Exit: In this tactical and deeply personal episode, patent attorney and engineer Craige Thompson shares how a devastating loss in his family sparked a lifelong mission to help entrepreneurs protect—and profit from—their innovations. From protecting EBITDA during an exit to engineering “commercially valuable choke points,” Craige reveals how patents can give you a monopoly-like edge and even solve for all five of Porter’s Five Forces. You'll learn when not to file a patent, how to evaluate whether your idea is truly novel, and why licensing your IP with “field of use” carve-outs can lead to surprising monetization wins. Whether you're startup-curious or exit-ready, this episode is packed with frameworks, red flags, and real-world examples to rethink IP as a strategic weapon, not just legal paperwork.

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Craige grew up in his father’s entrepreneurial small business in Fond du Lac, WI, where he learned the importance of protecting small businesses and helping them thrive. At Thompson Patent Law, Craige built a firm that focuses on creating Litigation Quality Patents® services—intellectual property assets designed to drive measurable business value. Their team ensures clients avoid unnecessary costs by focusing only on patents with real strategic potential. Through his Amazon #1 best-seller Patent Offense and the Litigation Quality Patent Podcast, Craige shares strategies to maximize IP value.

Craige on LinkedIn: https://www.linkedin.com/in/craigeothompson/

Website: https://thompsonpatentlaw.com/

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/