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.
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.