There are plenty of opportunities in today’s market and they are constantly evolving – whether it’s in niche markets, new ways of distribution, or a shifting retail environment. Licensing is the tool that connects the IP with the expertise and knowledge to take advantage of these markets and money-making opportunities.
Licensing creates teams of professionals and it does that in three ways. First there are the idea people who create the intellectual property. These include the businesses and individuals who invent the intellectual property. The second are the professionals, such as agents and consultants, who spot the licensing opportunities. I fall into this category. I assist my clients in making money with intellectual property, either as an agent licensing out rights to an IP, or as a consultant advising on acquiring rights to an IP. The third are the manufacturers who commercialize the intellectual property. Depending on the IP, these could be one or more manufacturers or marketing companies.
Bringing together these teams – better known as “commercialization teams”, is a goal of licensing. The licensing process “captures” a wide variety of expertise and knowledge, and focuses it on making money with the intellectual property.
Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies. His decades of experience run the gamut from medical devices to food technology to consumer products. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid’s action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges and startup events. He’s a published writer with articles appearing in several prestigious trade magazine including The Licensing Journal, Intellectual Property Magazine, and License India. Rand also mentors at the Cal State Fullerton School of Business and Economics and is a judge for their startup business plan competitions.