Licensing


Licensing your intellectual property is an important aspect of mass-producing your product or technology. It’s one of the most effective ways to manufacture and distribute your product in the marketplace. Let’s say you have a great product idea -- a new computer monitor design that has components that no other design so far offers -- and you’ve received all the necessary patents to protect your technology. The next step is looking for the best way to produce it. During this search, you find out that you don’t have the equipment, parts or even the time to gather your resources to make them on your own. So, what’s your next best option? to find someone who does!

What Does Product Licensing Entail?

Product licensing involves a form of trading of your intellectual property that is largely based on royalties. A fair amount of research and advice can go a long way in determining the best rate of royalties. However, it is not just about the royalties and percentage of profit you’d like to see in the future. Who you decide to trade to, or who you choose as a licensee, also matters, greatly. For example, let’s say your potential manufacturer or distributor happens to make their own computer monitors or, that their financial interest lies in certain companies that do. They may decide to buy your license in order to keep control over your product from entering the market successfully. As a business, that’s the last thing you want -- which is why it’s so important to have the right advice.

Steps to Find a Licensee

It’s important to consider the following steps to find the right licensee for your product.
  • Conduct research on manufacturers who work with similar products
  • Contact them for more information on their rates
  • Consider trade associations and trade shows to make contacts
  • Seek help from professionals who work with licensing rights

Benefits

The benefits of licensing the rights to your IP are pretty significant. For one, you can expand your sales and make a positive return on investment because you’ll have insight from people who are experienced in the business. Other benefits of licensing rights include:
  • Better access to manufacturing deals
  • Access to distribution channels
  • Working with established brand names
  • Improved sales
  • Fewer financial risks
Bhole IP Law prepares and negotiates license agreements, assignments, venture agreements, consulting and contractor agreements and other IP-related agreements from both the rights holder and acquirer perspectives. Our extensive client relationships in Toronto and all across Canada attest to our hard work and success. Our goal is provide valuable insight and customized solutions no matter the type of business or industry we are working within. We have helped our clients enter into successful arrangements including:
  • Consumer software licensing
  • Enterprise software licensing
  • Software as a Service (SaaS) agreements
  • Terms and Conditions
  • Privacy Policies
  • Non-disclosure agreements
  • Joint ventures
  • Patent licensing
  • OEM sourcing❏ Product development
  • Geographically allocated rights
  • Research and development (R&D) arrangements
If your business is looking to licensing its IP, please get in touch with us to begin the process of protecting your inventions and innovations today!