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