As an established company, technology and brand licensing should be the primary tools in your intellectual property leveraging. Licensing is also a key to growth, as the main purpose is to allow the development and use of intellectual property by third parties via a transfer of rights of use, without sacrificing ownership. Legally, this can be confusing, which is easily solved by contracting the services of a licensing professional.
Licensing can easily be split into two categories: technology and brand licensing. Each level exploits a different level of the market.
Technology licensing strategies focus on locating a licensee to explore the industrial and technological developments associated with the product, service or concept.
Brand or merchandise and character licensing focuses on establishing a publicly recognized trademark or copyright, which is licensed to a manufacturer who can spread the product, service or concept to markets outside of the licensor’s current scope.
Bottom line – Technology and Brand Licensing Benefits:
- – Rapid Market Penetration
- – Create Greater Consumer Loyalty
- – Distribute Risk and Development Costs
- – Profit from Continuing Royalty Income and Initial License Fees
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.