Best Practices for Marketing Intellectual Property
Fuentek has had many years of hands-on experience in generating scores of licenses and successful partnership agreements for clients, and has identified the following collection of “Best Practices” to effectively and efficiently market intellectual property.
- Define, implement and institutionalize an agile marketing process as a guide for consistent quality results.
- Secure inventor commitment and availability before initiating a marketing campaign—their involvement is crucial to success.
- Prioritize your portfolio of technologies and allocate the appropriate level of resources by adhering to a proven filtering methodology.
- Focus on ROI to ensure maximum return on your investment of your limited human and financial resources.
- Employ the right promotional tools that are appropriate for the target technology and target audience.
- Make use of your Web resources as a cost-effective marketing tool.
- Qualify licensees effectively to ensure that you focus your limited resources on opportunities that have been property evaluated and scrutinized to position your team to achieve your licensing goals.
- Utilize an IP management database system to proactively monitor and manage all of your marketing interactions and initiatives.
- Engage IP marketing professionals with the right technical and business backgrounds to successfully commercialize technologies in your portfolio.
- Embrace your “lessons learned” from all of your technology assessments and marketing activities.
Licenses and agreements for your technology portfolio are the direct result of a consistent and disciplined adherence to your technology assessment and marketing processes along with thoughtfully formulated promotional strategy and tactics. Adopting these 10 best practices will position your organization for success in achieving your technology marketing goals and objectives.
—By Jack Spain