IP Licensing Coach
Training Course Schedule
Week 1: Introduction to IP and Licensing
- Review of the different types of IP including patents, trademarks, copyright, trade dress, and trade secrets
- How to use the IP audit process to find and inventory IP assets
- Risks and rewards, and selling vs. licensing,
- The IP marketplace
Week 2: Basics of the Licensing Process
- Strategic planning and licensing program development, management, and execution
- Understanding the different licensing strategy options
- Steps in the licensing process, including building IP value, and using licensing to start a new venture or expand an existing business, international licensing and relationship-building
- IP valuation methods (e.g., Market, Financial, Cost) and their pros and cons
Week 3: Business Development and Licensing Sales
- How to identify and find licensing opportunities for different types of intellectual properties
- How to make money both from buying and selling IP rights
- The best resources for finding potential licensing partners including LinkedIn, trade shows, online directories, and other resources
- How to use due diligence to qualify licensing partners
- How to create licensing introduction and follow-up emails, one-sheets, available for licensing web pages, social media banners, and other sales materials
- How to create and present successful licensing presentations
Week 4: Negotiating Deal Terms
- Understanding the negotiating process
- How to prepare
- Negotiating tactics
- Communicating with clients
- Working with IP attorneys
Week 5: Licensing Agreements
- Review of the different types of agreements used in the licensing process, including Non Disclosure (NDA), Deal Memos, and Long Form Agreements (Patent, Trademark, and Copyright)
- Structuring key business terms, including granting of rights, exclusivity, territories, sub-licensing, performance clauses, royalty payments and termination
- Legal services related to the licensing program, including working with IP attorneys and drafting of license agreements with the client
Week 6: License Fees & Royalty Rates
- Calculating royalty rates – formulas and rules of thumb
- Different royalty rate structures and when to use them
Week 7: Managing Risks
- Identifying and managing different types of risk, including confidentiality, infringement, liability, and unlicensed competition
Week 8: Compliance and Licensee Management
- How to manage the ongoing relationships between the client and its licensees to maximize the success of the license business
- How to set up a contract compliance system for financial reporting, quality control approvals, and performance benchmarks
- Understanding royalty audits and when and how to conduct them
Week 9: Working as a Licensing Coach
- Understanding the role of a licensing coach
- How to decide your area of expertise (all types of IP vs. specific type)
- Promoting your services and finding new clients
- Contingent vs. retainer based compensation structures and how to get paid
- Structuring the licensing coach agreement
- Working with IP attorney’s and other client resources
Week 10: Licensing Game
Put into practice what you’ve learned. You will work on a business case study that will include an IP audit and licensing strategy. You will present their analysis and recommendations, and a discussion will follow focusing on how and why you reached their recommendations. The session will close with a negotiating session giving you an opportunity to present and negotiate a licensing deal.