Licensing databases can save IP managers time and create valuable budget room

Prometheus Equity Partners are business advisors who assist in taking technology to global markets.  They have developed a complex checklist, what they call the Technology Commercialization Toolbox, for technology transfer officers.  The Toolbox takes the project manager through Evaluation, Development, Team Development, and Marketing.

The last checklist is Marketing Technology Licenses, which was discussed in several sessions at last week’s IP Business Congress in San Francisco. Project managers can cover items in the checklist with license and royalty rate databases like ktMine.

Here’s how:

• Identify potential customers for technology licenses (target markets): Licensing databases like ktMine can be searched by licensor, licensee, industry and technology. What better source of potential customers could there be than organizations currently interested in licensing a particular technology?
• Establish technology licensing prices and conditions: Fully searchable, full-text of comparable licenses are found the licensing databases, yielding non-redacted royalty rate data and all terms and conditions.
• Develop appropriate legal documentation for technology licensing: Legal fees can be halved by first using a licensing database to research existing licenses, rates, and specific language for air tight controls.