Many times what goes in a product is more important than the product itself. And that presents a great licensing opportunity. That’s just what one cannabis company decided to do. Rather than use their technology to make and sell products, they use their R&D technology to help other product manufacturers deliver better and more consistent products.
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.
Today’s smart business operators are including a licensing program as part of their business strategy. It’s a strategy you can use to expand your business quickly. Rather than spending the time and money to create and promote new products or services, you can put your IP assets to work generating […]
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 […]