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 Concepts to Cashflow.
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.