I recently had a conversation with Nina Kaufman on the Business Breakthrough podcast. Don’t miss this interview where we discuss the secrets to identifying and licensing your business’ intellectual property. Consultants, mentors and technical support professionals all have valuable IP—now you can learn how to monetize it!
Fashion Designers are artists who often fail to see their designs as intellectual property, and miss some big licensing opportunities. Fashion design licensing is big business, generating over 16 billion dollars in retail sales in 2013. It’s a strategy used by large and small designers to reduce risks, launch new products and venture into different […]
NASA is offering startups the opportunity to license their intellectual property technology for no upfront cost. And you can work with their IP for up to three years without paying any royalty. Some of the worlds most famous and successful inventions were created using NASA IP. These include cordless tools such as power drills and vacuum cleaners, CAT scanners, the computer microchip, and freeze-dried foods, home insulation, invisible braces, enriched baby food, the video game joystick, LED lights, memory foam and many others.
Managing your IP assets are just as important as running your restaurant. You may have invented things, and not even realize it, such as a new lighting system or a unique operating procedure. To manage these IP assets successfully, you must know what you have.
Not taking action with your patent will cost you over $250,000. And that’s not counting the cost of lost revenue opportunities or litigating any infringement. It’s estimated that the average cost over the course of the 20-year life span of a single patent is about $100,000.00 – or roughly $5,000 per year in maintenance fees. And that doesn’t begin to cover the initial investment, which on average is about $150,000.00 to develop a single patentable invention. That’s due in part because the U.S. patent office currently rejects about 65% of all patent applications.