IP commercialization is the main part of the invention process. You can set up your own business, and handle all the steps from manufacturing products to designing sales and marketing plans. Although, the return on investment is high if you go for business yourself, but for this, you need a lot of money with greater commitment to risk.
Patent licensing is another option for bringing your innovative ideas in the market. Individual inventors, students, and small businesses that don't have enough funds to start manufacturing processes can take advantage of this IP monetization option. It enables innovators to retain the ownership of their IP assets by signing patent licensing agreements with top players or investors, and get paid on the future sales.
At Scintillation Research and Analytics, we have an objective of making innovators' life very easy, and help them earn maximum at minimum investment. We do market research for each element of each patent in an intellectual property portfolio, and develop customized patent licensing strategies.
Two options for IP licensing:
1. Non-Exclusive Licensing
2. Exclusive Licensing (Anchor Partnership)
Before you start with designing commercialization strategy for your IP assets, ask yourself these three simple questions:
1. Your goal – What your short-term and long-term plans are for your IP portfolio?
2. Available resources – How much you can invest on your IP assets?
3. Risk factor - What is your tolerance for business loss or risks?
The aim of the IP licensing strategy should be utilizing the intellectual property portfolio to its maximum potential. Thus, it is necessary to explore each vertical, and study potential commercialization opportunities using market research. Our IP strategy includes following elements:
1. Markets: What are the active markets of your IP portfolio?
2. Top Players: In the target markets, what are the top companies working on the similar technologies?
3. Products: What are the existing and upcoming products/technologies aligning with your IP?
4. Licensing opportunities: Detailed information about the investors and top players ready for IP licensing with you?
5. Evidence of use: Detailed reports and claim charts about potential infringers of your intellectual property.
So, get the first step towards monetizing your IP portfolio, and develop a comprehensive IP licensing strategy.
Get the experts’ advice for patent licensing strategy