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.
R&D is an expensive undertaking…especially for certain industries such as bio-sciences or pharmaceuticals. But sometimes your know-how, such as an R&D process, can turn into a licensable (and valuable) intellectual property that others can use to develop their IP.
One example is a small pharmaceutical company, who licenses its antibody R&D platform to other drug companies. In return for rights to use the R&D platform, licensees pay fees to use it and royalties on sales from each product incorporating its antibody technology.
In 2004, Dell faced a patent infringement lawsuit for selling its computers online. A small business claimed Dell violated its business method patent for selling a product internationally using the internet. How you do something – key processes and methods that give your business a competitive advantage – are valuable […]
Business trade secrets are one of your most valuable assets and it’s vital to make sure they are identified and protected. If not, your IP can wind up with your competitor. Ford Motor Co. suffered more than $50 million in losses after an engineer copied 4,000 company documents onto an […]
Your customer list is a valuable IP asset. Failing to protect, control and keep it confidential could threaten the very existence of your company. Without the right procedures in place, an employee could take your customer list to start their own business. A UK company is suing a former employee […]