Due diligence helps you determine if your potential licensing partner has the capability, capacity and resources, such as manufacturing and distribution,in place to successfully commercialize your IP.
Are you ready to begin licensing your IP? If so, you should have a concise IP Profile that provides all the key details about your intellectual property and the licensing opportunity.
As a licensee, you are making a substantial investment to time, money and resources to license and commercialize an intellectual property. Your due diligence efforts will help insure your best chance of success with the IP.
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 […]