Product Development for Licensing

Product Development for Licensing

Learn the inside tips, strategies, and how-to steps in developing a "licensable" product.

By Licensing Consulting Group

Select date and time

Starts on Wednesday, May 1 · 6am PDT

Location

Online

About this event

Just because you’ve created a new product doesn’t mean it can be licensed. Most inventors fail to make money with their products because they forget the fundamentals. It starts with a good product development foundation that ensures that it’s manufacturable, commercially viable, and attractive to potential licensing partners.

How to Develop Your Product for Licensing

Licensing your product takes more than just a patent, drawing, or prototype. And that’s where a correctly thought-out product development process can make the difference in getting companies interested in licensing your product or walking away.

During the first part of this workshop, you’ll find out what it takes to develop your product the right way for licensing.

  • What Not to do – some of the biggest mistakes that most IP owners make in developing their products
  • The Best Product Development Stage for Licensing – Learn when the best time in the product development timeline is to license your product and why this makes a big difference in your success.
  • Secrets to Successful Product Development – Learn about the different ways of developing products, from 3D printing to production prototypes, what’s required for each, and decide the best approach for your product development.
  • How to Make your IP “Licensable” – Learn what you must do in product development to make your product licensable and avoid the red flags that turn off potential licensing partners.

Inside Strategies for Successfully Licensing a New Product

In the second part of this workshop, you'll learn about the licensing process, and some critical steps and strategies to successfully license your product.

  • The Number One Rule of Licensing – Learn the two most important characteristics that make your product appealing to potential partners.
  • How to Avoid the Biggest Confusion About Licensing – Learn about one of the most common misconceptions about licensing and how to do it the right way.
  • What Licensing Partners are Licensing – Learn what you are licensing to a potential partner and why the better you can show them this, the more likely they will license your product.
  • How to Get the Highest Royalty for Your Product – Learn how the stage of product development impacts the “value” of your royalty rate and how you can maximize it.

Answers to Your Product Development and Licensing Questions

During the final part of this workshop, there will be a live Q&A session where you can get answers to your specific development and licensing questions.

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Licensing Consulting Group

 Licensing Consulting Group (LCG) specializes in the strategic management and licensing of intellectual property assets. We work with organizations of all sizes - from fortune 500 companies to small businesses and start-ups. Our results-driven approach focuses on finding creative solutions for leveraging your IP assets to grow and expand your business.

LCG brings an innovative and “big picture” perspective to your IP and licensing options. We analyze a range of applications, markets and industries to help define your IP success factors, and how to position its value proposition to potential licensing partners.

We take a data driven approach to finding and qualifying potential licensing partners. We are effective at connecting with all levels of management - from the CEO to product development - and identifying the right decision makers.

LCG helps you develop a strategic road-map and prioritize your licensing initiatives. We align the strategic application of your IP assets to support your business objectives and build your company value.

LCG implements and manages a proactive licensing program, engaging potential licensees, nurturing their interest and facilitating their decision-making progress in committing to a licensing agreement. We manage the back-end to insure compliance with contract terms, the timely transfer of IP assets, monitoring quality control, and collecting royalty payments.