Don’t get bogged down in the legal protection process. If so, you’ll wind up spending all your time and money trying to over protect your IP when you should be out generating revenue with your IP.
Protecting your intellectual property takes time. Especially if it is a patent which can take up to three years. What do you do in the meantime?
Spending too much time and money waiting until your patent is approved could cost you revenue opportunities. If your invention or technology works and is market ready, it’s time to take action. As long as you’ve filed a solid patent with good claims you’re ready to start licensing.
A second big mistake is protecting the wrong parts of your IP. Rather than trying to protect everything, you should focus on the most valuable or the most commercially viable parts of your IP. For instance if you have multiple inventions, instead of trying to patent all of them, focus on the one that has the most commercial opportunity. That’s the one to protect and license.
Getting bogged down with lots of legal expenses to protect IP is a problem many IP owners face. That’s why, for a limited time this week, I’m offering a special deal on a never released training program – “The Money versus Legal Side of Licensing“.
Many people often confuse licensing as a legal process. It’s actually a money-making process. Consequently they get bogged down in all the legal paperwork trying to get the protection right, and fail to take action on the money-making side.
That’s what you’ll learn about inside the “Money vs.Legal Side of Licensing” training course. This is the key difference between the legal side and the money-making side. The training also covers what action you must take to focus on the money-making side and generate revenues with your IP.
Here’s a quick preview of what’s inside this training course:
Another mistake IP owners often make is not figuring out what they want to do with their IP. Once you’ve created it, tested it, proved it works, and there’s a market for it, you must figure out what you want to do with it. Maybe you’re reluctant to take any action in the market because you’re afraid somebody will copy it, or you’re just not sure how to take action. The result is you wind up getting bogged down with “legal fears”, rather than focusing on taking the right action steps to find a good licensing partner.
Remember IP protection gives you a window of exclusive opportunity to get your IP into the market, either directly or through licensing. That’s why it’s important to distinguish between spending too much time on the legal and not enough time on the licensing side.
Licensing a bigger partner is also a strategy to help protect your IP. A bigger partner helps you avoid big legal costs trying to defend it from an infringer.
You’ll hear about these and other strategies inside this special training course, “The Money versus Legal Side of Licensing”. But it’s only available to my newsletter subscribers at a special deal this week.
Don’t get bogged down in the legal side of licensing. Click here to sign up today and get access to this special deal on the “Money vs. Legal Side of Licensing”.
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. His decades of experience run the gamut from medical devices to food technology to consumer products. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid’s action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges and startup events. He’s a published writer with articles appearing in several prestigious trade magazine including The Licensing Journal, Intellectual Property Magazine, and License India. Rand also mentors at the Cal State Fullerton School of Business and Economics and is a judge for their startup business plan competitions.