Whether it’s consulting, manufacturing, sales, advertising, or marketing systems, if you created a proprietary business method, system, or process, you can make money licensing it to others.
Anytime you solve a problem, it’s likely others face the same problem. If so, you’ve created valuable know-how IP that others would want to license. Learn how to turn your professional business methods and know-how into a licensable intellectual property and let others pay you royalties to use it.
How you do something – key processes and methods that give your business a competitive advantage – are valuable intellectual property. Some examples include manufacturing processes necessary to make a product, or that cuts its cost, or business methods that are unique ways of conducting business.
In simple terms, a business method or know-how are tasks related to making, delivering, and selling a product, service, or technology. Business methods cover a broad range of processes and systems – from sales systems to production, even ways of collecting and using information. Some examples include methods and systems for increasing productivity, improving profits, increasing sales, lowering costs, streamlining organizations, training employees, enhancing customer service, raising money, developing products, and more. While some business methods, such as internet-based technologies, are patents, most are protected as know-how trade secrets. That means it’s unregistered IP that must be kept confidential.
Here’s what’s included in the Professional Know-How Licensing System: