Some of the biggest corporations in the world have intellectual property just sitting there waiting for a small business or a start-up company to license it. You’re thinking “Well, wait a minute. Why would a large corporation do that?” The answer is that many of these large corporations like Dow, Corning or Hewlett-Packard or AT&T, have big R&D departments. They create not only intellectual properties related to the products and services they’re offering, but they also develop offshoots and new developments. And a lot of this IP they are unable to incubate and bring to the market.
They actually make these available for small start-up companies interested in licensing these technologies. It’s a great opportunity because it opens the resources of these companies because they want you to succeed with their IP in the market. If you are successful launching their IP into the market, they’re going to keep an eye on you. Then if you build it up to five or ten or twenty million dollars, they may wind up buying you out.
I talk about this in the IP Business Builder and Licensing Mastery. This is a resource. If you are thinking, “I’d love to start business, but I don’t know what I want to do.” Well there’s a gold mine of intellectual property to start a business around.
You can go to a company such as AT&T.com. Search their site, and you’ll find information on technology they are licensing, how their licensing program works, and what types of companies they’re looking for.
Here’s another tip. One of the fastest ways to start a business is by licensing a technology or brand from a well-known company. Can you imagine how quickly you can ramp up the value of your business if you get a license from AT&T to commercialize one of their intellectual property technologies? You’re leveraging their IP, name and credibility. You bring the talent.
There are many corporate IP opportunities out there, and the key is understanding how to use licensing to take advantage of these. You’ll find these opportunities in different categories from data management, to multi-media, to wireless.
These IP’s are on the books for these big corporations, but they can’t take advantage of them. What they’re looking for is start-ups that can commercialize them. It’s just sitting there – potential multi-million dollar opportunities – just waiting for smart savvy entrepreneurs in the world today to license them.
Start researching and do your homework. Take a few hours a day for the next two weeks, and search the internet. It’s an invaluable tool for finding IP opportunities because it gives you access to so much information. When you start collecting this information, opportunities will present themselves.
You just need an awareness of what licensing is and how to use it. Then you’ll start “seeing” licensing opportunities everywhere. Licensing is the process to acquire these IP’s – whether they are technologies, services or entertainment. You don’t have to be an expert in licensing. You just have to know how licensing works, how to ask the right questions, and where to get access to the experts to help you put the licensing deal together.
I talk about this in Licensing Mastery, IP Business Builder, and University IP. They’ll not only teach you what licensing is and how to use it, you’ll also learn how to find IP and ask the right questions to take advantage of those licensing opportunities.
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.