Take distribution for example. When you think about licensing your intellectual property, especially if it is a product or service, you should consider how it is distributed. It’s important to remain aware and have a basic understanding of how your intellectual property applies to the marketplace. One way of understanding how your intellectual property applies to the market is understanding where it fits – and in this case understanding what the best distribution channels are helps determine who may be the best type of licensee.
Consider consumer products. There are a number of property categories out there – licensing categories if you will – each with different distribution channels For example, if you have invented a product, think beyond it just being a specific type of product, such as a toy item, apparel, video game or gift item. Perhaps there are multiple channels – say gifts and toys, or specialty and online – that could apply to different formats or configurations of the product. If so, then these other channels may offer licensing opportunities for additional licensees.