Commercialise your idea
How can I capitalise on my IP?
This depends on your overall business plan but we will work with you to come up with the best strategy to monetise your IP. We have outlined some of the more common options below.
Can I sell my IP?
Your business’ IP is an asset, just like your house or your car and therefore can be sold. The price you can secure depends on the value of your IP to the potential buyer. This is up to your business to negotiate. Once a price has been agreed, we can help you with the transfer process. Needless to say, in most cases, once the deal is complete you have no on-going rights in the IP. This is a good way of having a single cash injection to your business.
Can I let someone use my IP but keep the rights myself?
If your business wants to retain ownership and control of the IP then looking to licence the IP could be more attractive to you. There are various options available subject to the on-going involvement and control your business wants to retain in the IP. The terms of the licence are there to be negotiated between you and your potential licensee. A licence can be country specific and for a set duration, and your business can retain the right to quality control the products/services on offer. The licence can be drafted to fit your business needs. A licence allows you to command a regular income in licensing fees or royalties. For further information, see Licensing.
I’m happy to share my IP – how about franchising?
Franchising is a specific type of licence which allows the franchisee to have access to your proprietary knowledge or to sell your products/services directly under your brand name. As with a licence, a franchise agreement would enable you to command a regular income in licensing fees or royalties. For further information, see Franchising.
Can I save money on my IP?
You may also want to look at government financial incentives for innovation, in particular R&D tax credits and the Patent Box. As you may be aware, the Patent Box means that your business may be able to pay a lower rate of corporation tax on profits derived from patented inventions and we all want lower tax rates!
How do I stop someone else misusing my IP?
In reality, no one wants to spend money litigating but there is a time when a legal fight really is the only option to protect your business and ultimately help you secure a sphere of protection around your business, which in turn, can make it more valuable, particularly when the time comes to sell the business. We will help you decide if it is the right time to fight and if so, which forum is best for you.
Arrange a free meeting
For more information, or for an informal chat about your legal requirements, contact us now for a confidential no obligation discussion.
Latest NewsFrom the blog
Client Spotlight: King's Hill Gin Sandy Morrison from King's Hill Gin located in Edinburgh came to us with a new gin business. Needless to say, we quickly concluded it would be [...]
Food & Drink Start-Up Event Held at Edinburgh's Training and Conference Venue, Oliver Tidman will provide advice on how your food and drink startup can protect its intellectual property. The event [...]
Internationalise Your Business Held at Scottish Enterprise in Edinburgh, Intellectual Property Lawyer Oliver Tidman will join a panel of speakers at 'How To Internationalise Your Business' event on Tuesday 10 September. [...]