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Getting More From Intellectual Property
Many companies around the world, in various industries, have set ambitious targets for revenues generated by licensing their intellectual property. These goals are usually unrealistic because companies lack the management skills and organizational structure necessary for success. Too often, executives focus only on the IP of their own companies instead of licensing ideas from the outside.
The take-away: Companies that license intellectual property from other organizations not only improve their own product development but also gain a better understanding of IP markets—an understanding that in turn boosts their IP-licensing revenues.
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