To put it simply, licensing is renting our idea to a company. or individual. Typically, this company, or person is already in business, meaning they are manufacturing, marketing, advertising, and distributing products, and/or services. Most importantly, they have existing customers and potential buyers. The unique beauty of our business model is that you benefit from our existing infrastructure. Most business oriented people want to focus on ideation, not actually opening, and running another business. Licensing is an attractive alternative for that reason.
- 1. A simple idea. We’ve devised a simple idea of a small improvement, which modify, and revolutionizes the the original “Franchise” infrastructure. There’s no need to reinvent the wheel, and waste time focusing on trying to make better a structure that’s already in use. Investing in new model development is expensive, and companies are risk-averse. We’ve found that, the more we can reduce risk, the better our chances of getting potential companies to license our idea.
Perceived ownership. A patent is not required to license our idea. At our company, we see a signed licensing deal weekly. In these agreements, patents aren’t a factor. Nearly always, the idea has been protected with a provisional patent application only. Provisional patent applications are affordable to file, and you can teach yourself how to write your own with the right learning materials, research, time, and effort.
We know that the lifespan of most consumer products is fairly short — much shorter than the time it takes to receive an issued patent. Let’s be real. We’re also aware that It is nearly impossible to protect a product, service, or idea against online sellers who are keen to knock off these things with a patent. So we don’t bother wasting our time, money, and energy on one? There are other more affordable tools that we use to stop online sellers such as trademarks, copyrights, and design patents.