What’s the best way to find and pitch a company about licensing your intellectual property? Let’s begin with a way that doesn’t work – cold calling. It’s very difficult and companies are constantly being bombarded by cold calls. One of the best and faster ways is meeting companies at trade shows.
Licensing is a money-making process. It transforms your intellectual property into income producing products and services. Here’s a quick introduction to licensing that covers some key steps including finding the right fit, creating marketability, presenting your IP and negotiating the deal.
Finding the first licensing partner is challenging. They are often the most difficult to obtain. Sometimes you get started when someone approaches you about licensing. But in most cases, it requires taking action to find your partners. They look for two things: an IP owner they like and trust, and an IP with a great chance to make a profit.
One of the best resources for finding your licensing partners is trade shows. They happen everywhere. I attend many trade shows and it’s one of the quickest way to learn about an industry, make contacts, and find the right licensing partner.
Just because you invented a new product or got a patent, doesn’t mean it’s “licensable”. To make it licensable, you must take certain actions with your IP. Not just any actions, but the right actions. In this article, you’ll learn about the 5 most important actions that are the inside secrets to making your IP licensable.