How to Sell New Customers and Products without Spending a Dime
Selling your IP to one customer or one product at a time takes lots to time, money and resources. But there’s a better way. This is part 4 in the …
8 Ways Licensing Leverages IP to Generate Revenue
Leverage means using a little to control a lot. It gives you the ability to use more than just you. Through leverage, you can effect change much more rapidly. Leverage equals speed, or velocity. The more leverage you have, the faster your journey to wealth. A common misconception is that leverage refers only to borrowing money. Leverage is so much more than just borrowed money. You can also leverage intellectual property through licensing.
3 Ways Licensing Creates “Money”
Licensing is most often used to generate revenue from IP by partnering with companies who pay you royalties. But that’s only one way of creating money from licensing your intellectual property.
Three Ways Licensing Creates Lucrative Cash Flow
Licensing is lucrative because it generates money in three ways. First, you can license your IP to multiple licensees simultaneously. Second, it generates recurring revenue from these licensees, which is also known as autopilot revenue. And third, you can let licensees re-license your IP and pay you twice. These are the three big reasons why licensing is so lucrative.
How to Get Your First Licensing Partner
Getting your first licensee is one of the most challenging steps in the licensing process. Sometimes it begins when you’re approached by a company interested in licensing your IP. Most …