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.
Licensing converts IP into money-making opportunities. Look around, and you’ll find just about every product, service and technology today is created from somebody’s intellectual property. And in many cases, licensing is the strategy used to get it into the market. But that’s just the tip of the iceberg when it comes to licensing. Here’s four of the top ways licensing creates money making opportunities.
Finding a good intellectual property to licensing can be challenging. During this video, you hear about the following characteristics
Licensing creates a partnership that’s really just the tip of the iceberg. If you’re a small business or start-up, licensing opens a door of opportunity. It give you access to more than just an IP…it gives you access to valuable OPR – other people’s resources.
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.