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Last updated on 2024年8月28日

How do you manage the relationship with your licensees and monitor their performance?

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Licensing your invention can be a great way to generate income and reach new markets without the hassle of manufacturing, distributing, or marketing your product. However, licensing also requires careful management of the relationship with your licensees and monitoring of their performance. In this article, you will learn some tips on how to do that effectively and avoid common pitfalls.

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Cmdr (Dr.?) Reji Kurien Thomas , FRSA, MLE?

I Empower Sectors as a Global Tech & Business Transformation Leader| Stephen Hawking Award 2024| Harvard Leader | UK…
Gregory Carson

Patent Attorney | Biomedical Engineer | Inventor
Sanuj Das

Lawyer & Patent Attorney | IP, TMT & General Commercial Advisory

1 Choose your licensees wisely

The first step to managing your licensees is to choose them wisely. You want to find partners who share your vision, values, and goals for your invention. You also want to make sure they have the resources, expertise, and reputation to produce and sell your product in a quality manner. Do your research, check their references, and negotiate a clear and fair licensing agreement that covers all the important aspects, such as royalties, exclusivity, territory, duration, quality standards, reporting, and termination.

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Gregory Carson

Patent Attorney | Biomedical Engineer | Inventor
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Make sure you understand the three types of licensing agreements: exclusive, sole, and non-exclusive. Select the right type for each licensee based on their capabilities and how they meet your specific needs. It’s also wise to consult with an attorney experienced in licensing agreements to ensure everything goes smoothly.

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2 Communicate regularly and clearly

The second step to managing your licensees is to communicate regularly and clearly with them. You want to establish a good rapport and trust with your licensees, and keep them updated on any changes, improvements, or feedback on your invention. You also want to listen to their concerns, suggestions, or issues, and address them promptly and respectfully. Communication can be done through various channels, such as phone calls, emails, newsletters, meetings, or visits. You should also have a formal communication plan that specifies the frequency, format, and content of your communication.

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3 Monitor and evaluate their performance

The third step to managing your licensees is to monitor and evaluate their performance. You want to make sure they are fulfilling their obligations and meeting your expectations. You should have a system to track and measure their sales, revenue, market share, customer satisfaction, and compliance with your quality standards. You should also have regular reviews and audits to assess their progress, identify any problems, and provide feedback and guidance. You should also have clear criteria and procedures for rewarding or penalizing your licensees based on their performance.

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Dr. Rolf Claessen ??

patent attorney ?? equity partner at Michalski · Hüttermann & Partner ?? youtuber ?? podcaster ?? TV jury ?? author ?? chemist ?? most importantly dad ?????? charity Rotary and JCI ??? patents, trademarks & designs
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Choose metrics as a basis for the license that can easily be verified and not easily be falsified - such as the revenue instead of the profit. For public companies, the revenue is publicly available. Also, even if you send an accountant to the licensee to check the books, it will be much easier to check for the revenue compared to the profit.

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4 Support and train your licensees

The fourth step to managing your licensees is to support and train them. You want to help them succeed and grow with your invention. You should provide them with the necessary resources, information, and assistance to produce and market your product effectively. You should also offer them training and coaching on how to use, demonstrate, or sell your invention. You should also encourage them to share their best practices, challenges, and solutions with you and other licensees.

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5 Protect your intellectual property rights

The fifth step to managing your licensees is to protect your intellectual property rights. You want to prevent any unauthorized use, copying, or infringement of your invention by your licensees or third parties. You should have a strong and enforceable licensing agreement that defines your ownership, rights, and responsibilities. You should also register your invention with the appropriate authorities and agencies. You should also monitor the market and the activities of your licensees and competitors, and take legal action if necessary.

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Sanuj Das

Lawyer & Patent Attorney | IP, TMT & General Commercial Advisory
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In my experience, particularly in case of a new territory with a limited footprint of the licensor, it is important that the license agreement categorically outline (a) liabilities of the licensee regarding compliance with local laws (e.g. payment of relevant taxes, labelling requirements etc.); (b) extent of grant (e.g., limitation to sub-license, modify label or product specification etc.); and, (c) consequences of termination of the agreement (e.g., immediate halt or phasing out / transfer of product know-how, limitation to advertise under licensor's trademark). In trademarks, for instance, it is usual for licensees to commence marketing under a competing brand. It may be useful to consider a 'cooling-off' clause to avoid such instances.

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6 Adapt and innovate

The sixth step to managing your licensees is to adapt and innovate. You want to keep your invention relevant, competitive, and attractive in the changing market. You should constantly research and analyze the trends, needs, and preferences of your customers and potential customers. You should also solicit and incorporate feedback and suggestions from your licensees and end-users. You should also experiment and test new features, functions, or designs for your invention. You should also update and improve your invention regularly and inform your licensees of any changes.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Cmdr (Dr.?) Reji Kurien Thomas , FRSA, MLE?

I Empower Sectors as a Global Tech & Business Transformation Leader| Stephen Hawking Award 2024| Harvard Leader | UK House of Lord's Awardee | Fellow Royal Society | CyberSec | CCISO CISM CCNP-S CEH
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Implement data analytics tools to monitor and analyse licensee performance in real-time. At an e-commerce platform, we used analytics tools like Google Analytics and Tableau to track sales data, customer interactions, and operational metrics. This allowed us to quickly spot trends and areas of concern, enabling timely interventions. Using data analytics ensures that you have accurate and actionable insights into licensee performance, facilitating proactive management. Set specific, measurable benchmarks that licensees should achieve at regular intervals. In a SaaS company, we established monthly and quarterly benchmarks for customer acquisition and retention rates for our licensees.

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How do you manage the relationship with your licensees and monitor their performance?

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1 Choose your licensees wisely

2 Communicate regularly and clearly

3 Monitor and evaluate their performance

4 Support and train your licensees

5 Protect your intellectual property rights

6 Adapt and innovate

7 Here’s what else to consider

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