Finding the right licensing partner can make or break your licensing opportunity.
6 Sources for Finding the Right Licensing Partner
It’s the most important step in the licensing process. Get the right partner, and your IP can make a fortune. Getting stuck with the wrong partner can cost you time and money in lost income opportunities and legal fees.
The right partner will increase your IP value, build your licensing program, and create far more cash flow than a partner who promises lots of money upfront but fails to get your IP into the marketplace. The key to the right licensing partner is making sure your IP fits with the licensees’ business operation and products or services. The better you match the capabilities of the licensee with your IP, the greater the money-making opportunities.
- Internet Search Engines – Due Diligence on a Dime
- Trade Association Directories – Direct Line to the Decision Makers
- Trade Magazines – Getting Inside the Industry
- Tradeshows – A Goldmine of Connections
- Networking Events – The Fast Track Relationship Builder
- Third Party Agents – Paying for the Professional
Once you understand how to find the right type of licensing partner or partners, you’ll be able to quickly build a lucrative licensing program.