Advantages of licensing

Types[ edit ] In the United States and Canadalicensing the term registration is sometimes used is usually required by law to work in a particular profession or to obtain a privilege such as to drive a car or truck. Many other privileges and professions require a license, generally from the state or provincial government, in order to ensure that the public will not be harmed by the incompetence of the practitioners, and to limit supply to incumbent practitioners and thus increase wages. There are various resources available to assist professionals with the completion of these steps.

Advantages of licensing

You can, however, license your processes out to other companies, whether you're making cars, chemicals, clothes or cheese. Sharing your intellectual property IP rights can be profitable, but it has risks you need to consider too.

20+ Benefits of Licensing | All Art Licensing Blog

Lower Your Risk Manufacturing products yourself costs money. If you license your process out to another company, you're not committing your own money and time to producing the goods. The licensee does, while you receive royalty payments. That can be an excellent deal, particularly if actual manufacturing is outside your company's skill-set.

Licensing lets you profit from the process while keeping your company focused on what it does best. Even if you're using the process yourself, you can make a profit by licensing it in other countries or states, rather than trying to expand. Any legal and financial risks are born by the licensee, not you.

The licensee can potentially become a competitor. It's also possible they'll lower standards, churn out poor quality goods and tarnish the reputation of your process.

What Sort of Deal? Licensing your IP takes negotiation. Whether the license is advantageous for you or not depends on how good a deal you strike.

You need to have a clear idea of what you want to gain, and what the other party's goals are. Are you offering an exclusive license, or can you license the process to other companies?

Advantages of licensing

What's the best result you can get from this agreement? What outcomes do you want to avoid? How will this agreement make you money? Are you offering just the tech, or will you train people to use it? Negotiating technology licensing is complex, and you may need to pay for experts to represent you.

If you underestimate the value of your process, you may settle for too little or give away too much. Lots of licensees will ask for exclusivity, but is it a deal-breaker? Signing an exclusive contract too quickly can cut you off from potential profits down the road. Losing Control One risk of licensing IP is that you lose more control than you expected.

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Suppose you grant the licensee the right to assign the license to someone else.Jun 29,  · Licensing your proprietary manufacturing process lets you make money off it without doing the actual manufacturing. But if you negotiate the .

The Blake Project Can Help: The Brand Licensing Workshop. Branding Strategy Insider is a service of The Blake Project: A strategic brand consultancy specializing in Brand Research, Brand Strategy, Brand Licensing and Brand Education.

FREE Publications And Resources For Marketers. Knowledge Base. The HDMI Licensing Knowledge Base is a library of current information about the HDMI standard. Select an appropriate category from the pull down below, or, you may use your own search terms to obtain results.

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Sometimes confused with insurance, bonding helps ensure that the job you've been hired to do is performed and that the customer is protected against losses from theft or damage done by your employees. Licensing Advantages Provides additional profitability with little initial investment Advantages •Allows for sharing of risk (both financial and political) •Provides opportunity to learn new Microsoft PowerPoint - Glo Marketing Author.

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