Monday, September 23, 2013
For ongoing businesses, finding more customers and increasing sales is a continuous challenge. In both cases you can use licensing, which can be done in less time and for less money than starting from scratch.
Here are 7 reasons why:
Profit Potential ? Licensing can generate substantial profits from the initial license fee and on-going royalties or service fees.
Licensing Partners ? Licensing creates motivated partners who have invested their money and time into successfully commercializing the IP.
Market Expansion ? Licensing can develop new markets using the financial and managerial
resources of the licensees.
Business Expansion ? Licensing eliminates almost all of the costs normally associated with launching new
products or opening new distribution channels.
Lower On-Going Expenses ? The expenses involved in managing multiple licensees are much lower than marketing the
products directly.
Marketing Advantages ? Licensors can reduce marketing costs and benefit from the combined marketing activities of all the licensees.
Economies of Scale ? The more licensees a licensor has, the greater the number of customers and the larger the amount of revenues that can be generated from the IP.
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