Finding the first licensing partner is challenging. They are often the most difficult to get. Sometimes you get started as a result of someone approaching you about licensing. Look for a partner in close geographic proximity so it’s easier to meet with the them. Also consider friends and family as potential candidates for your first licensee.
Intellectual property is your most important business asset and is a key part of your business plan. In today’s IP centric economy, your business plan must include a strategic focus on protecting, managing and leveraging your intellectual property to build your business value and sustain your competitive advantage. Writing a […]
If you’re an intellectual property owner who is not familiar with the licensing process or you don’t want to manage your own licensing program, then you should use a licensing agent. Although an agent adds to the cost of a licensing program, they bring experience, know-how and resources.
It’s called intellectual property and it is the DRIVER of economies and wealth creation around the world. Over the last decade, study after study is confirming the wealth creating power of IP rights. It is the driver of economic growth, incomes, jobs, investment, and trade.
Commercializing IP is the process of transforming it from an intangible asset into a tangible product or service. You have 3 options for commercializing your IP: Sell, Make or License.