When He Becomes She – How Quick Action Captures A New Licensing Opportunity

June 17, 20150 Comments

Sometimes one “little” change can bring big licensing opportunities. Especially when it’s international news.

Not even a week after Caitlyn appeared on the front cover of Vanity Magazine, an application for the trademark name “Caitlyn Jenner” was filed on June 6th.  The application includes TV shows (entertainment in the nature of an ongoing special variety, news, music or comedy show” and “ongoing television programs), and a various products including hats, pants and, of course, both suits and dresses.

This isn’t the only trademark application filed to take advantage of the Jenner news.  An earlier application was filed in April for the name “TransJenner” that includes  “adult novelty gag” clothing, athletic shirts, tops and bottoms, and a range of other clothes.

You can read the full article at this link: Caitlyn Jenner trademark application hints at new TV show.

If You Don’t Know Where You’re Going, How Will You Get There?

Trying to license your IP without a plan of action is like steering a boat without any navigational charts. You start in one direction, don’t get anywhere, then suddenly change course, but never get to where you want to go. You’ll wind up wasting lots of time money and resources doing the wrong things.  Creating a licensing plan doesn’t have to take weeks and months of work. All you need is the right tool to help you quickly organize and get your plan into action. That’s why the Quick Start Licensing Plan is one of the core tools of the Licensing Toolkit. Click here to get The Licensing Toolkit now.

How big will this licensing opportunity be is anyone’s guess.  But keep in mind, the fast acting entrepreneurs who filed these applications literally created and acquired intellectual property rights overnight to what could become a valuable licensing opportunity.  And it only cost them several hundred dollars.

Licensing opportunities surround you everyday. The trick is being able to spot them and take action to capitalize on them.

The value of your intellectual property to a buyer (licensee) depends upon what you are doing to “trigger” it’s value. This requires taking action with your IP –  it’s how your IP is being or will be “commercialized”. In this example, a trademark (or well known celebrity) that attracts major media exposure is triggering it’s value, which in turn makes it an attractive licensing opportunity.

The most important thing you can do with your intellectual property is take action. If you don’t do something with it, nothing will happen. 95% of intellectual property is not commercialized, and the biggest reason is not taking any action. Every day you wait to do something with your IP, it costs you money – in legal fees, lost opportunities or unrealized income. It doesn’t matter if you have a new product, software, movie, or game, your ability to make money with your intellectual property is limited only by your imagination and knowing what you can do with it.

Free E-Course: The Licensing Mindset – How to Think Like an IP Entrepreneur

Licensing4Profits is offering a free video e-course, The Licensing Mindset: How to Think Like and IP Entrepreneur. This e-course will open your eyes on why the most successful businesses are built on an IP licensing model. You’ll hear how Mrs. Fields, Bill Gates, Dale Carnegie, Google, and others transformed intellect property into business fortunes. You’ll find out about new ways to transform your intellectual property into money-making products and services, and why every IP owner successfully making money with their IP helps others to do the same.

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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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