How to Use Licensing to Make Money Without Doing Anything
Have you ever heard of licensing as a way to generate passive income? Licensing is an incredibly lucrative form of business, and it’s becoming more popular among inventors, small …
Have you ever heard of licensing as a way to generate passive income? Licensing is an incredibly lucrative form of business, and it’s becoming more popular among inventors, small …
You’ve only got one chance to make the right impression. Present the right story, and your potential licensing partner will be interested. Show them the wrong one, and they’ll walk …
Getting your first licensee is one of the most challenging steps in the licensing process. Sometimes a company approaches you about licensing your IP. Most often, though, it starts with …
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 …
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.
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.
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.
Are you grossly under-using or undervaluing the worth of your intellectual property in the market place? If so, it’s not surprising. Many IP owners I meet don’t understand how to …
One of the most important things you can do in licensing is listen to what a potential partner has to say about your intellectual property. Regardless of what type of …
One of the biggest mistakes you can make licensing your IP is continuously pushing it on a licensing partner. That ultimately pushes away your partner, especially if your IP doesn’t …