If you’ve got an IP, you have two options to make money with it: produce and sell it yourself or license it. Licensing rights to your IP for cash is a more straightforward, less-expensive route than manufacturing and selling it yourself.
Licensing is a far easier and less risky option for most IP owners than starting a business. It’s an ideal option if you lack the resources to bring your IP into the market or are not interested in starting and running a company. Licensing a well-established company already making and selling products similar to your IP also increases your chances for success in the market.
Licensing is flexible and lets you leverage your income opportunities. It requires no upfront cost and minimizes your downside risk.
You control your IP rights and rent them out (i.e., license out) to other companies. You can divide rights by distribution channel or retain all rights for specific markets and product formats.
Licensing is a faster way to get your intellectual property to market. It’s a low-risk strategy that focuses your time (and money) on finding a company with the expertise and resources to bring your IP to market. You are plugging into a company already in motion in the marketplace.
You can learn more about the advantages of licensing in our free workshop, Licensing 101 – A Beginners Guide to Licensing. Here are some of the benefits you’ll hear about:
- Why Licensing is a lower cost and often faster way to get your IP into the market than starting a new business.
- What steps to take in Licensing out your intellectual property, and why licensing is much less work than the day-to-day operating of your own business.
- How to use licensing to expand your business and keep your “breadwinner” products or services going.
- Why licensing is more effective in difficult economic times and how to tap into the demand for intellectual properties.
- How to start the licensing process and find the partners you need to get your IP to market.
Sign up today and learn why licensing is better than starting a business.