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 is President / CEO of Licensing Consulting Group, an intellectual property management and licensing company specializing in assisting clients in IP Management, Strategic Consulting, Acquisition of Licensing Rights, and Property Representation. Rand has licensed some of the biggest Hollywood blockbusters, including “Batman” and the “Mighty Morphin Power Rangers”, both of which generated billions of dollars in worldwide merchandise sales. He has lead various international licensing programs as both licensee and licensor, and through consulting projects focused on licensing strategy, brand development, sponsorship sales and property representation.