Marketing & Licensing Your Product or Idea
You've created a brilliant new idea. Maybe it's a product with an edge over the competition. Maybe it's a service that you know there's strong demand for. But creating it and getting the patent are only the first steps. If you don’t want to start your own business then licensing might be a good option for you. We work closely with independent marketing and licensing professionals that can help you navigate this process. Contact us for a free consultation!
Launch Your Business with Licensing
Breaking through the competition with a new product idea is hard. If you want to get your product on the shelves, don't spend years growing product recognition from the ground up. Instead, license your product or idea to a larger company.
Licensing vs. Manufacturing: What's the best plan?
Manufacturing and selling your own products takes a lot of capital. You need to have a factory, a materials source, and a distribution plan just to create the products. The rewards might be high, but so is the risk.
Licensing simplifies the work. When you license your product idea, you get royalties powered by an experienced company. We work closely with independent licensing consultants that can help you find the right company and help you submit the idea through their submission process.
Start with a Strong Marketing Plan
Reaching out to companies isn't the same as advertising to potential customers, but it still requires a good marketing plan. Before you start reaching out to potential partners, you need to know precisely what you're bringing to the table. Our situational analysis framework for new product development will help you zero in on:
- Strengths, like unique product capabilities and market appeal,
- Weaknesses, like high competition and saturated markets,
- Opportunities, like undiscovered markets, and
- Threats, like pending patents and administrative problems.
The Right Financial Plan
When you're licensing your product idea instead of selling products, a financial plan matters. You need to know what royalty percentages you're willing to agree to and how long the licensing agreement should last.
Don't let your new idea sit on a shelf. Find the right product licensing agent & licensing partner so your products and services reach customers and you see a profit faster. Contact us for a free consultation and if we can’t help you we will refer you to someone who can!