|Remaining profitable in an increasingly competitive global economy is a key challenge for businesses today. To stay competitive, businesses need new and innovative products to meet the changing demands of the marketplace. Licensing provides the bridge for IP inventors and owners to partner with entrepreneurs and businesses to commercialize an IP for mutual benefit, usually in the form of royalty payments. Licensing provides advantages for both the licensor (property owner) and licensee. By partnering with a company that already has the manufacturing capacity, distribution network and management expertise, licensing will enable a property owner to commercialize the IP asset much faster than starting a new company. For the company licensing the IP, the IP asset could help the company expand its sales into new markets more effectively with a new innovative product or brand extension.|
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.