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The Looney Executive


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Mar 12, 2010

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Want another way to make some dough?

I'll assume your answer is a definite yes!

For many entrepreneurs, taking a technology from concept to product is the standard business practice. But there's another fast-growing model you should consider that could also be quite lucrative. It's called licensing.

Jeff Matsuura, world renown IP expert and author lays out a step-by-step approach to creating a licensing business model. As an attorney with the Alliance Law Group, Jeff has worked on numerous licensing projects.

And he lays out 3 key components to successful licensing:

  • Secure your intellectual property via a patent, trademark, or copyright
  • Develop the prototype
  • Market your technology to potential partners

According to Jeff, even though you're not manufacturing the product, you still need to have a robust marketing effort to find licensing partners!

Jeff also says that Ocean Tomo is an intellectual property marketplace that