The Licensing Mindset… Understanding Where Your IP Fits

October 30, 20120 Comments
Where Does an IP Fit

When it comes to intellectual properties, one size does not fit all. It’s important to know how your IP applies or fits into the marketplace. You must have an understanding of where it fits in the customer market, how’s it’s made, produced and distributed, because a big part of successfully licensing your IP is presenting it in a way that demonstrates that your IP will, in fact, be profitable to license.

For example, you may be an inventor of products, think beyond just creating a type of product; perhaps there is a niche opportunity or a different way the product could be used that would apply to your product, such as a new shoe for ice skating that with a few design changes can be adapted for rollerblading.

Begin to think about where your IP fits, both in large and niche markets, because the better you can demonstrate the marketability of your intellectual property, the greater success you’re going to have in licensing your IP.

 

Introduction to Licensing – Creating a Cash Flow Machine

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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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