In this study, we examine individual patent holders and the fate of their inventions. A unique database consisting of over 800 private individuals who have obtained decision rights over a new technology in Sweden is used to analyse how opportunity and individual level characteristics are related to the likelihood that patented inventions are commercialised in a new or existing small firm. Our findings show that the likelihood that patent holders commercialise inventions through such an entrepreneurial mode is influenced by opportunity novelty and the perceived entrepreneurial ability of the individual. © 2013 Inderscience Enterprises Ltd.