Many times what goes in a product is more important than the product itself. And that presents a great licensing opportunity. That’s just what one cannabis company decided to do. Rather than use their technology to make and sell products, they use their R&D technology to help other product manufacturers deliver better and more consistent products.
How do you know when it’s time to license your professional know-how? One of the best signs is when someone asks. Sometimes it’s companies outside your industry, and in many cases, especially for training consultants, it’s often one of your customers.
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.