Protect your IP in China
Often companies in developed economies are sitting on gold but do not realize it. They forget that yesterday’s technology, while not useful in one market, can be of great value in another.
Technology advances everyday and competitive pressure to adopt the latest can lead many to assume that what they have has no value. In developing economies, that which is old to you may be new to them. As we head into the last quarter and think about next year, you should also cast an eye towards any existing values which are being overlooked. In some cases, it could provide a windfall which will help next year’s bottom line more than that new marketing plan if the economy continues to be soft.
It also represents a potentially great low-cost, high-return springboard into developing markets like China.
As opposed to trying to set up a new operation in an unknown foreign market, licensing existing intellectual property is a simpler alternative.
The main concern is how to control and profit from your IP. This article will discuss some of the issues you need to be aware of and possible strategies to deal with them. While this article may give you an idea, remember you will need assistance in such an endeavor; assessing the market, finding the right partner, negotiating the licensing agreement and verifying compliance are crucial to a successful licensing strategy.
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