Licensing Your Expertise

Who does this apply to?

Any person who has devised or developed their own methods or systems for something. These people can be coaches, consultants, trainers, speakers or any other kind of expertise specialist. There is a good chance that you can turn what you have developed into a licensed product, and leverage your expertise knowledge and processes.

How does this work?

Say you are a life coach. You work with small businesses and find them easier ways to go about their daily business and in turn cutting the cost of their overhead. You could sell the rights to your processes and materials to other coaches, who would pay you an initial fee and ongoing royalties

But, isn’t this a Franchise?

A franchise does involve a license, but the distinction between a franchise and licensing your expertise is the path that the knowledge you are leveraging takes once it leaves your hands. A franchise is a fully formed package with strict branding, marketing and sales procedures, while simply licensing your expertise is an agreement allowing another person to use your knowledge for a fee. What they do with it is up to them, as long as you are compensated as per the agreement.

Why License?

A license is easier to set up than a franchise, since it does not involve packaging an entire business around the product or service in question.

A license can evolve into a franchise in due course, so it can be a good first step towards a fully packaged franchise.

Rand Brenner Author
Founder , 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 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.

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