Intellectual property (IP) is an important business asset. A typical IP portfolio of an established business may consist of patents, trade marks, copyright and designs.
These intangible assets can have a substantial value that can benefit your business in a number of ways. You can use them as a marketing tool, to build brand recognition or reputation for innovation. They can also help you to secure investment, generate income, build competitive advantage or grow.
Just like any other form of property, you can sell, transfer, mortgage and license your intellectual property to others. You can also grow your business through franchising and consider outsourcing product distribution to allow you to exploit your IP commercially.
This guide explains the options available to you if you decide to involve other people and businesses in the commercialisation of your IP. It details the advantages and disadvantages of each option and tells you how to use each of them to benefit from your IP.