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.
Recently Qualcomm announced it was taking a hit on its revenue forecast. The reason is a royalty dispute with Apple who is withholding royalty payments on its contract. At issue is the royalty rate formula that determines how much Apple owes Qualcomm for the rights to use its chips in […]
There are many ways to use intellectual property to get a big return on your investment. Producing and selling products is one option. Licensing rights to generate revenues from non-competitive products is a second option. But these aren’t the only options. Here are four ways to use licensing as part of your business strategy to get the biggest ROI on your IP investment.
In licensing, it’s not where the market is today but where it’s going. Licensing is about spotting where an industry and companies are going, and capitalizing on it with your IP. That’s why licensing is such an ideal strategy.
Many startups I speak with often tell me their IP has other market applications, but they just aren’t ready to go after them now. They are concentrating on one market, building sales and then, at some future point (which they don’t know), they’ll move into another market. The problem is innovation moves very fast. Customers and markets don’t wait for innovation.