What’s the best way to find and pitch a company about licensing your intellectual property? Let’s begin with a way that doesn’t work – cold calling. It’s very difficult and companies are constantly being bombarded by cold calls. One of the best and faster ways is meeting companies at trade shows.
Licensing is a money-making process. It transforms your intellectual property into income producing products and services. Here’s a quick introduction to licensing that covers some key steps including finding the right fit, creating marketability, presenting your IP and negotiating the deal.
One of the best resources for finding your licensing partners is trade shows. They happen everywhere. I attend many trade shows and it’s one of the quickest way to learn about an industry, make contacts, and find the right licensing partner.
Just because you invented a new product or got a patent, doesn’t mean it’s “licensable”. To make it licensable, you must take certain actions with your IP. Not just any actions, but the right actions. In this article, you’ll learn about the 5 most important actions that are the inside secrets to making your IP licensable.
The key to being successful in licensing your IP is to prove the marketability of that property. This means proving the marketability of your IP…that it works and customers will buy it or use it. There are a number of ways you can verify marketability (and build value) for a newly developed IP.