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How to best profit from intellectual property is a tough issue – one that requires tremendous strategic thinking. Intellectual Property licensing can reap tremendous rewards for both licensor and licensee, and is an effective way for both companies to profit from their respective strengths.
For instance, a company that is great at development but lacks the resources and skill for marketing and distribution might make a good match with one whose weakness in research and development is more than made up for in their ability to aggressively bring the product to market. In many of today's competitive industries speed to market and breadth of distribution can not only generate tremendous revenue, but protection from the competition.
For many start-ups as well as independent inventors, intellectual property licensing is an ideal way to capitalize on intellectual property. The risks are relatively low if the rights are both well negotiated and monitored.
|Sheri Ann Richerson|