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.
One of the best resources for finding your licensing partners is trade shows. They happen everywhere. I attend many trade shows and it’s one of the quickest way to learn about an industry, make contacts, and find the right licensing partner.
Licensing creates a partnership that’s really just the tip of the iceberg. If you’re a small business or start-up, licensing opens a door of opportunity. It give you access to more than just an IP…it gives you access to valuable OPR – other people’s resources.
The key to being successful in licensing your IP is to prove the marketability of that property. This means proving the marketability of your IP…that it works and customers will buy it or use it. There are a number of ways you can verify marketability (and build value) for a newly developed IP.
Most people have a lot on their plates and just don’t have the time to read all the information they get. And you don’t have the time to meet with …