Getting your first licensing deal is the most challenging. Sometimes it happens quickly, but most often it takes a lot more time than you think. But just because a licensing deal is on the table, how do you know it’s the right deal?
Join me for a live webinar on Wednesday June 15th at 4PM PDT and find out how to avoid the 5 biggest mistakes that can turn your licensing deal into a licensing dilemma. These are the mistakes that cost you time, money and if you’re not careful, possibly even rights to your intellectual property.
Here’s what you’ll find out about during this webinar:
- Failing to sign with the right licensing partner: Your licensing partner can make or break your licensing deal. It’s a long-term relationship and if you discover your licensing partner isn’t who you thought they were, trying to get out of the deal can once you sign is a costly situation. You’ll find out what you must to do to make sure you’ve got the right partner before your sign the deal and how to avoid some of the common pitfalls of working with the wrong partner.
- Giving your licensing partner everything they want: Putting all your eggs in one basket is a risky proposition. Especially if its your first licensing deal. If you give away all the rights to your IP, they could wind up languishing away because your partner doesn’t use them. Now you’re stuck trying to figure out how to get them back. You’ll find out what you must do to avoid this dilemma and make sure your rights are working for you.
- Waiting for your licensing partner to do something: You’ve signed your deal, months go by, and nothing is happening. In a rush to get your first deal done, you didn’t take the time to figure out what your partner must do and when. Your licensing partner fails to support your IP as promised, costing you revenues and missed market opportunities. You’ll find out how to avoid this mistake and what you must do to make sure your licensing partner will do what they say they’ll do.
- Losing control of your licensing partner: Getting your licensing partner into the market quickly is tempting. After all the faster they start selling the quicker you’ll make money. Then you discover your licensing partner is selling your IP, but you never saw any samples or prototypes. Worse the product quality is not what you wanted. If you fail to control your IP and your licensing partner, your IP rights run wild. You’ll find out how to avoid losing control of your IP and your licensing partner, so you don’t wind damaging your IP value, or worse losing rights to your own IP.
- Not getting paid by your licensing partner: You’re licensing partner is selling, but every time you get a royalty statement it seems like your losing money on your licensing deal. You’re not even sure if your licensing partner is calculating your royalties correctly. It’s impossible to know what deductions they took and whether they are even allowed. You’ll find out what you must do to make sure your licensing partner doesn’t short change you on your licensing deal.
Don’t let your first licensing deal turn into a licensing dilemma. Mark your calendar and join me on Wednesday, June 15th at 4PM PDT for this eye-opening webinar and find out how to survive your first licensing deal.
When: June 15th
Time: 4PM PDT
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.