Business plans are a crucial tool for approaching investors and considering the market opportunities for your business. Because IP (intellectual property) provides your business with competitive advantages and increases its value, it is necessary to let investors know about your IP assets by adequately integrating them into your business plan. Not only is it essential to communicate to investors / lenders that your business has IP assets, it is also imperative that the IP have appropriate legal protection. Intellectual property assets, although intangible, are important business assets and should form a key part of every aspect of a good business plan. Reference to these IP assets and the market opportunities are often the key to the success of the business.
Rand Brenner Author
Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies.