Benefit from the knowledge of others
Purchase or inlicensing of knowledge can be an effective way of strengthening the innovative ability of your company. For example, you can:
- Enhance the efficiency of your product development process by exploiting the knowledge of others – acquire a licence for the technology or team up with a partner in relation to development.
- Strengthen your product with technical components from a collaborative partner – if the partner has a strong brand, it can benefit both parties if it appears immediately below your brand on your product.
- Create a shortcut to market for your products by using established brands.
- Enter into a design agreement with well-known designers rather than starting from scratch.
Sale or outlicensing of own IPR can be a shortcut to boosting revenue. For example, you can:
- Receive royalties from a licence agreement which allows a collaborative business partner to exploit your technology in markets where you do not operate. This applies equally to geographical regions and if the technology can be used in other sectors.
- Check whether a patent owned by the company can be sold if you are not using it yourself – this may be more profitable than simply saving the renewal fee.
- Strengthen your brand by allowing carefully selected partners to use the brand on products containing the company’s technology, design or know-how.
Assess the current importance of the rights for the company and how important they are expected to be in the future:
- If they are key, they should probably be protected and no outside party should be allowed to acquire access.
- If they are a strong element in the company, other companies that are not direct competitors may be allowed to boost your earnings.
- If there is a mismatch in relation to your company, you can consider whether they are central to others before limiting your loss by relinquishing the right.
Here you can find
standard purchasing, sale, in- and outlicensing and non-disclosure agreements