April 26th was World Intellectual Property Day. If you’re not familiar with World Intellectual Property Day, it’s a global event that celebrates the achievements that IP and innovation create in the world around us. This year, it focused on IP in the sports industry, and the importance of IP to […]
Licensing is a dynamic market and you never know what’s going on behind the scenes. That’s one reason licensing is very lucrative. Some of the worlds largest companies have so much IP development going on they can’t commercialize it all. In many cases, they look to outside companies to license it. […]
Today, the next big shift in wealth accumulation is underway. Wealth creation is shifting from the tangible economy (i.e plants and equipment) to the intangible economy of intellectual property. Like the shift that occurred in the Industrial Revolution, wealth will be accumulated by those with the new skills of making money with 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.