Partnering can be the key to profitable product and invention development. Licensing new products and technology involves sharing of knowledge and experience. Whether used by independent inventors or existing companies, this sharing can benefit all parties by increasing profit opportunities and expanding market access.

Homework and legwork, however, enhance the chances for success. WISC clients need answers to:

• How do I target potential licensing partners?
• At what stage of product development should I approach them? What information does the company expect?
• What's the expected initial approach?
• Does the company review outside ideas? Have they licensed products from the outside before?
• Whom should I contact?
• What's the company's experience in new product development?

In licensing partner searches, WISC:

• Works with you to develop a potential licensee profile and project scope. Criteria are established on the number of companies and type of appropriate partners defined by product line, industry, company size, and/or geographic area.
• Performs a search of several databases, buyers guides, trade association directories, and other resources (electronic and hard copy) to help identify potential partners.
• Works with you to develop a survey targeting your interests, then conducts phone interviews to all selected companies (20 or more).
• Summarizes survey results in written and matrix form with conclusions and recommendations.

WISC will develop and implement a project plan to help you decide if a licensing strategy is right for your product. Projects are completed within 30 to 60 days.

Click here to view a sample Licensing Partner Search report.

Starting a Licensing Partner Project