Suppose we have some arbitrary positive number x.
Is there a method to represent its inverse in binary or x's inverse is 1/x - how does one express that in binary?
e.g. x=5 //101
x's inverse is 1/x, it's binary form is ...?
You'd find it the same way you would in decimal form: long division.
There is no shortcut just because you are in another base, although long division is significantly simpler.
Here is a very nice explanation of long division applied to binary numbers.

Although, just to let you know, most floating-point systems on today's machines do very fast division for you.
In general, the only practical way to "express in binary" an arbitrary fraction is as a pair of integers, numerator and denominator -- "floating point", the most commonly used (and hardware supported) binary representation of non-integer numbers, can represent exactly on those fractions whose denominator (when the fraction is reduced to the minimum terms) is a power of two (and, of course, only when the fixed number of bits allotted to the representation is sufficient for the number we'd like to represent -- but, the latter limitation will also hold for any fixed-size binary representation, including the simplest ones such as integers).
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