Leverage is simply getting the maximum result through the minimum of effort. As applied to business, this means getting the most exposure and market opportunity for your product or service using the least amount of effort.
Licensing is a strategy that can grow your business and give you the biggest bang for your marketing buck. Licensing allows you to make your products or services work for you by harnessing the power of other established businesses across the manufacturing, distribution and sales spectrum.
Licensing out your intellectual property enables you to leverage the income generating opportunities from unused portions of your intellectual property. One way in which you can use this licensing leverage is to exploit other markets by allowing the licensee to manufacture, sell and/or distribute the intellectual property to a different market. This is just one of many leveraging strategies which will cover in future issues of Licensing4Profits.
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.