How can you get paid for the intellectual property your business owns? Licensing might just unlock a hidden revenue stream. Learn about the basics of selling a license, or permission to use your copyrights, trademarks, or patents.
(Be sure to listen to Episode 5 first for an overview of the different kinds of IP; Episode 10 builds on Episode 5).
- License = fancy word for permission to use your IP
- What terms should your license include?
- What’s the difference between an exclusive and non-exclusive license?
- What should you charge for a license?
KEY TAKEAWAY: A license is a contract, and like any contract, it’s always best to put exactly what you’re giving permission to do in writing, signed by both the owner of the IP (licensor) and the user (licensee).
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This podcast is information not legal advice specific to your situation.