Acquiring IP rights – or Licensing in – can offer a number of significant benefits to the licensee (i.e. company acquiring the IP rights). Acquiring rights to an IP is a strategy for creating a new product line, revitalizing a product to attract new customers or increase profit margins. Licensed IP can also give added value to a companies products or services by creating differentiation (i.e. stand out) from the competition.
Keep in mind that different types of IP properties have varying life spans – some are inherently short-term, such as movie properties, and others offer a long-term opportunity, such as established brands. Determining if the IP is the right fit depends on what your organization seeks to do in the commercial marketplace.
Interested in finding some IP? Check out this free LCG Special Report – 4 Secrets to Finding Good IP.
Rand Brenner is President / CEO of Licensing Consulting Group, an intellectual property management and licensing company specializing in assisting clients in IP Management, Strategic Consulting, Acquisition of Licensing Rights, and Property Representation. Rand has licensed some of the biggest Hollywood blockbusters, including “Batman” and the “Mighty Morphin Power Rangers”, both of which generated billions of dollars in worldwide merchandise sales. He has lead various international licensing programs as both licensee and licensor, and through consulting projects focused on licensing strategy, brand development, sponsorship sales and property representation.