Licensing converts IP into money-making opportunities. Look around, and you’ll find just about every product, service and technology today is created from somebody’s intellectual property. And in many cases, licensing is the strategy used to get it into the market. But that’s just the tip of the iceberg when it comes to licensing. Here’s four of the top ways licensing creates money making opportunities.
The number one goal of intellectual property is to transform it into money-making products and services. Every day you wait to do something with your IP, it costs you money …
You’re failing to take action because you lack awareness about the opportunities and ways to protect, manage and use your IP to make money. Your IP winds up undervalued and in many cases unprotected. For example, imagine what happens if one of your employees accidentally discloses crucial IP information while updating his/her status on social networking sites. It costs you money in missed income opportunities and legal fees taking action against others using your IP without your permission.
India has become one of the world’s foremost destination markets for brands, characters, entertainment, fashion, sports, and art properties. This in turn attracts growing numbers of multinational companies, and smaller and medium sized Indian retailers and manufacturers who now know the value of licensing.