Making intellectual property work for you and your business
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Commercializing your IP
Identifying and protecting your intellectual property is one thing, but turning it into a revenue generating asset is another.
How do I monetize my IP?
The first step in doing this is ensuring the IP you are creating will hold value for you or another party. If another party is interested in using your IP, they may propose a licensing agreement. Important things to keep in mind are whether this licensing agreement will limit any future trading or revenue streams, and whether this second party is a compatible user of your IP in terms of your goals for the future.
How do I know how much my IP is worth?
The value of your intellectual property is determined by a variety of factors, and is often one of the most valuable assets of any well established or up-and-coming business. It is important to note how integrated your IP is into your service or business, the shelf life of this IP and it's role and exclusivity in your current market.
You can also engage an advisory firm to give you a professional opinion.
Can I license my IP?
It is possible to license the right to use an invention, design, trade mark, copyright or plant variety right in New Zealand.
It is recommended that any licensing arrangements be in writing and in accordance with New Zealand law. If appropriate, the licence may be recorded with the Intellectual Property Office.
Contact us for assistance in the preparation or review of licensing agreements.
I want to sell my business, what do I need to keep in mind for IP?
Intellectual property is a type of property. When selling your business, you will be entering a sale and purchase agreement. This agreement outlines the details of the transaction including the people involved, what is being purchased, the amount it is being purchased for, among other things.
The Intellectual Property of your business is likely to be described as “intangible” assets. It is important to know what exactly what your IP is when it comes to describing it in any agreement, as well as a general understanding of it's value.
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