Economic Uncertainty – A Catalyst for IP Innovation

July 31, 20120 Comments

Shocks to the financial system create opportunities for small businesses and entrepreneurs. The US Depression – era economist Joseph Schumpeter summarized the phenomenon with his concept of creative destruction – a process through which innovation is catalyzed by crisis. For entrepreneurs and businesses with intellectual capital, history shows that downturns can provide enormous strategic opportunities – just consider the following time line of recession – era inventions:

· 1929-1939 – television, nylon, neoprene, photocopies, and the electric razor.
· 1973-1975 – Japanese auto industry, and personal computers.
· 1990-1991 – the internet economy.
· 2001-2003 – the iPod.
· 2007-present – green energy, telecom computing, convergence, and nanotech.

If there is one universal truth in business, it is that companies that continually invest in innovation are in a better position to ride out economic storms and come out the other end stronger. We are experiencing yet another point in history when investment in innovation and intellectual property is the ultimate competitive advantage. IP is about agility, and the ability to capitalize on the opportunities the recession will create.


Licensing Partners Don’t License Ideas….They License Money.

Your goal is to get a partner interested in licensing your IP. But if you don’t give them the right information in the right way, they’ll walk away. If you are unsuccessful in licensing, it may be a timing issue, but more than likely, it’s lack of preparation and a poor presentation that did you in.  But how do you provide your information in a way that doesn’t put off a licensing partner? It’s called a Licensing Profile One-Sheet, and it’s one of the 5 core tools inside The Licensing Toolkit. This simple one page “fill-in-the-blanks” template lets you quickly create a summary of your licensing opportunity, and it’s the first information you’ll send a potential licensing partner. Click here to get The Licensing Toolkit.


 

Source: Intellectual Asset Management July/August 2009

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About the Author ()

Rand Brenner 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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