We live in an Internet connected world and there is no better showcase for your intellectual property than on your website. It’s one of the first places potential licensing partners will go to find information quickly about your IP. And it’s also a way to get qualified leads that can ultimately lead to a licensing deal.
In addition to information about your IP, another important part is your blog. Post the latest news, developments and customer testimonials about your IP. Create a licensing page on big social media sites such as Facebook and Linked In, and tie those to your website.
Design your web page or site with the audience in mind, meaning the licensee. For example, if you invented a new toy, the audience would be toy manufacturers. Provide all the information a toy company would be interested in knowing, such as how the toy works (such as videos or animation, who the target market is (boys, girls, etc.), the status of any testing or sales, and what rights are available for licensing.
A licensing website can speed up the deal making process. It’s an efficient way of providing all timely information about your IP, which means less time spent individually updating interested companies. Only show non-confidential information. If your technology is in the process of getting a patent, don’t publish anything until your patent application is completed. Keep the confidential information password protected and give access only under NDA.
I had a client with a sound technology,and they created a website to showcase the technology. They included a library of all the research studies, and it was constantly updated with results from new research reports. This was a time-saver because when I made presentations to potential licensees, they always wanted the research information. Rather than going back and forth sending documents, I simply referred them to the website.
You should do the same thing. Post all the information about your IP on your website so it’s easy for potential partners to find it. Plus it’s easier to keep your IP information up to date. You can also use your blog to connect with interested companies and keep them informed.
Be sure your website also explains who to contact, what forms to fill out, and how the licensing process works. The better informed potential licensing partners are about your IP, the faster you will be able to create money-making licensing deals.
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.