Available for Licensing: Creating an IP Licensing Profile

July 29, 20130 Comments

 

Are you ready to begin licensing your IP? If so, you should have a concise IP Profile that provides all the key details about your intellectual property and the licensing opportunity.  The key word is concise.  Think of it like a resume.   The IP profile is an introduction to potential licensees, and they do not have or will take the time to read the entire history of your IP.

Licensng BrocheureHere’s a quick format for preparing a Licensing Profile:
(Ex: This IP Profile is intended to inform that the patent for PRODUCT X is available for licensing.)

  • Background – Explain the basic benefits of the product.
  • Milestones – What milestones have already been reached by the product, including patent status, working prototypes, current sales activity and where the product is being sold or distributed.
  • History – A BRIEF history of the product, providing a short explanation of the companies or people involved.
  • Product  –  Details including additional functions and any market research that supports the licensing opportunity.  
  • Customers – Who are the customers and why they buy the product.
  • Licensing – General information about licensing the IP rights such as exclusivity, territories, etc.

 

Make sure the IP Profile looks professional and has the correct contact information including your name, telephone, email address and website. Be sure to add a page to your website titled Licensing or Available for Licensing.

 

IP TO INCOME – THE QUICK START GUIDE TO MAKING MONEY WITH YOUR INTELLECTUAL PROPERTY

Licensing is a powerful tool for creating wealth from your intellectual property. Whether you are an inventor who wants to license out the rights, or an entrepreneur seeking to acquire the rights to an intellectual property, this introduction to the licensing process will show you inside tips, options and strategies to plan, promote, find, present, negotiate and successfully license an intellectual property. If you are just starting out or still developing your IP, then this is the product for you. 

Click here to get more information.

Filed in: Licensing StrategyMarketing IP
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About the Author ()

Rand is President / CEO of Licensing Consulting Group, an intellectual property management and licensing company specializing in assisting clients in IP Management, Strategic Consulting, Acquisition of Licensing Rights, and Property Representation. Rand has licensed some of the biggest Hollywood blockbusters, including “Batman” and the “Mighty Morphin Power Rangers”, both of which generated billions of dollars in worldwide merchandise sales. He has lead various international licensing programs as both licensee and licensor, and through consulting projects focused on licensing strategy, brand development, sponsorship sales and property representation.

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