Your IP is more than just the foundation for your products or services. You most likely created it to solve a problem or meet customer demand. If it solves a problem for you and it works, then it can solve a problem for other companies in a different market or industry. That’s a golden licensing opportunity and it should be part of your business strategy.
When it comes to seafood in the US, Boston is the king, known for its delicious local seafood cuisine like New England (Boston) clam chowder, lobster rolls and raw oysters. Not only is it one of the oldest cities in America, it’s also home to some of the best and oldest seafood restaurants in America. It’s also a great place to find a market ready and customer tested brand for licensing.
Fast-growing industries offer a great licensing opportunity. One example is the cannabis industry which is quickly growing as states legalize recreational and medical use. To meet the skyrocketing demand, companies are scrambling to find new technologies for production and delivery of cannabis in all forms from medicinal purposes to edible products.
What happens if your company is growing so fast it can’t keep up with demand? For many companies, they wind up going out of business as they lose frustrated customers because they’re unable to deliver products. But for smart companies they turn to licensing as a strategy to quickly scale up their business.
Recently Qualcomm announced it was taking a hit on its revenue forecast. The reason is a royalty dispute with Apple who is withholding royalty payments on its contract. At issue is the royalty rate formula that determines how much Apple owes Qualcomm for the rights to use its chips in […]