Licensing is a versatile tool that can be used to leverage a business in many ways. IP licensing can create a competitive advantage, expand markets and increase the value of a business. Keep in mind that licensing is a marketing strategy that leverages assets, and many businesses overlook one of the best assets that a licensing agreement can leverage – OPR – Other Peoples Resources. The strategic licensing of IP assets can add virtual mass and resources for either an operating business or a startup. Licensing is a mechanism to tap manufacturing and distribution facilities, and/or sales and marketing efforts without having to spend the time and money to develop them on your own. And, depending upon the circumstances, OPR can increase the value of a business – its credibility and goodwill — far beyond the revenue opportunities.
Rand Brenner Author
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 includes 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 Mighty Morphin Power Rangers. Rand is a featured speaker on licensing at investment conferences, trade shows, colleges and startup events. He’s a published writer with articles appearing in several prestigious trade magazines. Rand also mentors at Cal State Fullerton Business School and is a judge for their startup business plan competitions.