Why Licensing Must Be Part of Your Business Strategy

Your IP is in every part of your business – from product development to product design, from raising capital to expanding your business internationally. IP savvy businesses link their IP to every aspect of their business strategy. If you don’t’ have an IP strategy, your business essentially becomes a commodity provider, attempting to compete on price. That makes it even more difficult to set your business apart, increase revenues and gain market share, especially if you’re up against larger and better financed competitors.

Intellectual property is the power that keeps your business moving forward. It can be leveraged to increase revenues, lower overhead costs and reduce financial risks. It’s a sustainable and highly renewable resource that is your greatest competitive advantage – if you know how to manage it for maximum return at every stage of its life cycle.

 

About the Licensing Toolkit

bizownercover2Whether you are a start-up with a new intellectual property, an operating business ready to expand, or an entrepreneur looking for the next big opportunity, you need to get into the IP licensing game.  How?

The fastest way is with The Business Owners Licensing Toolkit. It includes all the key IP management tools you need to protect, manage and make money with your IP assets – both inside and outside your core business.

Inside the Licensing Toolkit are the core tools you need to organize, manage, and leverage your IP assets.  By using these tools, you’ll increase your IP awareness and see new opportunities for your IP and your business. It will help you focus your internal resources so you can better manage your current IP assets as well as those in development. Most importantly, it will help you make sure you’re protecting and using your IP assets the right way, and alert you to any potential legal or financial risks.

The Solution to your IP Challenges

What’s Included

The Licensing Toolkit includes the 6 core tools you need to organize, protect, manage and strategically use your IP assets.  Here’ a brief summary of each tool:

  1. The IP Inventory Worksheet and IP Protection Questionnaire:  The IP Inventory will guide you in identifying and listing all your IP assets.  It includes their protection status, how you are using (or not using) them, whether there are any potential risks, and steps you are taking to keep them protected. These worksheets are designed to help you quickly organize your IP, and create an inventory of your IP assets.
  2. The Licensing Plan Worksheet:  The Licensing plan is your action plan.  It details the steps you’ll take to move from (A) to (B). The licensing plan focuses on the two main activities necessary to create a licensing deal: finding a company interested in your IP and convincing them of the commercial value a license will provide to them. This one page worksheet helps you quickly create an action plan for your licensing program including who’s the right type of partner, your key deal terms, and how you’ll market it.
  3. The Licensing Opportunity Analysis and Profile:   A simple one page “fill-in-the-blanks” template to quickly complete an analysis and summary of your IP assets, and the licensing opportunity. Using the information from Step 3 – The Licensing Plan, you will drill down into your IP, focusing on what your IP does, why it’s better, the benefits it offers your licensing partners, and a summary of the licensing terms. It also includes samples of templates you can use to create a summary of your IP licensing opportunity. This summary is the first information you’ll send a potential licensing partner.
  4. Licensing Partner Qualification Questionnaire:  Use this one page questionnaire to quickly qualify your licensing partners.  It includes the four critical areas of information you must know about them so you can decide if they would be the right type of licensing partner. This is known as due diligence, and it’s basically the process of getting as much information as needed about your potential partner.  The more you know about each other, the better you can figure out if the partnership makes sense.
  5. The Negotiating Checklist:  While there are many ways to negotiate licensing agreements, certain parts are critical to the success of an agreement.  This one page checklist covering the 10 most important business terms for your licensing agreements. Fill it out before you start your negotiations and use it to guide you in negotiating these terms with your licensing partner.
  6. Key Terms & Conditions Questionnaire: Every license agreement is unique and should reflect the goals and expectations of both you and your licensing partner. While there are many ways to structure licensing agreements, this questionnaire breaks down the most important clauses which, if overlooked, can lead to a dispute with your licensing partner, or worse, loss of your IP rights.  Use the questionnaire to guide you in working with a qualified attorney to help you structure the right kind of licensing agreement.

Added Bonus
Licensing Strategies for Patents, Trademarks, Copyrights and Trade Secrets: Learn the different ways to license each type of IP and when to use these strategies.

Look Inside to Learn More

Click here to view the Table of Contents

bizownercover3

No Risk 60 Day Money Back Guarantee

Investing in the Licensing Toolkit is an investment in your business.  Your IP is your most valuable business asset and is critical to your growth and survival in today’s IP intensive marketplace.  The Licensing Toolkit gets you thousands of dollars in experience licensing advice on how to protect, manage and leverage your IP expand and grow your business.  If you decide for any reason it’s not for you, then email us within 60 days for a full refund.  It’s that simple.