While the traditional model of business suggests, when you have an idea worth selling, you sell it for maximum profits. The IP model of business (world’s new way of business) suggests that before you begin to sell your product, you simply write it down on paper before you begin to monetise. This ensures that one, you become the clear and rightful owner of your property, and second, when the time is right, you are able to leverage it to your advantage.
We bring to you 5 such business crossroads, where you can leverage your IP for better gains.
Some milestones where you will require an IP Audit and valuation are:
STARTING A NEW BUSINESS OR REORGANIZING BUSINESS: If before starting a business or restructuring it, you already have a high value IP, you can strategize accordingly and make bigger and better informed decisions. If you have ready reference of a freshly done IP audit, you know which resource is capable to making your riches and which resource might cause you to suffer loses, and you can plan accordingly. Remember in business, its not about never losing money, its about never losing the leverage.
WHEN LOOKING FOR INVESTORS AND LENDERS: When you need to raise capital you should know what your resources are worth. You should know how much your IP is worth and you much profit your IP can make. Sometimes, having these numbers are not only important to convince the expectant investor but also to know the market rate and the value of your own resource to prevent getting scammed and losing an important opportunity.
REDUCE EXPENSES AND MAXIMIZE REVENUE: This is the most obvious one. You have to understand your assets so that you can milk them. IP is one such business asset where the possibilities are endless. Imagine if the original Instagram did not know of its creative potential and IP properties, it would have sold at $1 Billion back in 2012? No way!
WHEN LOOKING TO SELL WHOLLY OR IN PART: Whether you are trying to rope in a new equity partner or are looking to sell your complete business, you need a sheet that clearly demonstrates the value of your properties and that includes Intellectual ones. This is the most overlooked area where IP evaluation can make or break. You need to project strong value when you are looking to sell or when you are looking for a new partner. You also know clearly how much intangible assets you hold, and what level of IP expertise, the new buyer or partner is expected to have.
BEFORE LICENSING, ASSIGNMENT OR LITIGATION: Did you find out your IP is being infringed or have you been thinking of franchising out? You need to get IP evaluated before so that you are not cheated by the other side. Imagine that your copyright is being infringed but in actuality you were making little to no returns from that copyright. Instead this copyright infringement is increasing the viewership and recognition of your trademark. Evaluating your IP before launching an attack on the infringer or before entering into a franchise model is key for you to get a fair market value and to prevent your IP from losing value over time.
These are some of the most likely scenarios where an IP audit may be necessary and non-negotiable for you and your business. But these aren’t it. The list is endless. You stand to profit from knowing your own properties at any stage, for information is king. Especially in this age and day of business. Don't get lose money thats on the table.
Stay ahead of the curve with our experience IP attorneys and evaluators, who can help not only to gauge the correct value of your property but also leverage it to increase your profits.
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