Staying Competitive in a Global Marketplace

December 6, 20120 Comments
Remaining profitable in an increasingly competitive global economy is a key challenge for businesses today.  To stay competitive, businesses need new and innovative products to meet the changing demands of the marketplace.  Licensing provides the bridge for IP inventors and owners to partner with entrepreneurs and businesses to commercialize an IP for mutual benefit, usually in the form of royalty payments.  Licensing provides advantages for both the licensor (property owner) and licensee.  By partnering with a company that already has the manufacturing capacity, distribution network and management expertise, licensing will enable a property owner to commercialize the IP asset much faster than starting a new company.  For the company licensing the IP, the IP asset could help the company expand its sales into new markets more effectively with a new innovative product or brand extension.

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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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