If you’re like most nonprofits, you face a big “business” challenge – funding. You rely on fundraising and the result is you spend a lot of time trying to find donors instead of fulfilling your social mission. But there is a better strategy to rely less on donations by creating income-generating activities. That strategy is licensing.
Licensing builds a bigger money pie by tapping into partners who already have the production, distribution and marketing resources in place. They are established in the market and can add your IP to their revenue pie.
The royalty rate is the price a licensing partner is willing to pay for your intellectual property rights. Calculating it is just as important as determining the royalty rate amount. The more critical or significant your IP is to revenue and profitability, the higher the royalty rate. But that’s not […]