Franchising extends the use of licensing to create a significantly different commercialisation vehicle. The owner of a successful business can expand without borrowing capital to develop if its intellectual property (IP) is licensed to franchisees.
A common commercialisation vehicle is to license, not sell, an IP right via one or more licensing agreements. It means that you give permission for another party to use your IP on agreed terms and conditions. If you don’t have the resources or experience to develop and market your product or service, licensing can be an effective strategy.
Stormseal inventor and Managing Director, Matthew Lennox, has accelerated his idea for a product that provides huge relief for storm victims and their rescuers and insurers through government funding and securing intellectual property (IP) protection.
File for IP protection before launching a crowdfunding campaign and consider your global IP strategy like Byron Bay father-son duo Stuart and Cedar Anderson, inventors behind Australia’s most successful crowdfunding campaign to date, The Flow Hive.
Determined to show a risk-averse industry the potential of new microgel technology, Progel CEO and Director of Commercial Engagement at Uniquest, Cameron Turner, explains how his team developed a probiotic drink unlike any other.