Homework and legwork, however, enhance the chances for success. WISC clients need answers to:

• How do I target potential licensing partners?

• At what stage of product development should I approach them? What information does the company expect?

• What's the expected initial approach?

• Does the company review outside ideas? Have they licensed products from the outside before?

• Whom should I contact?

• What's the company's experience in new product development?

• Works with you to develop a potential licensee profile and project scope. Criteria are established on the number of companies and type of appropriate partners defined by product line, industry, company size, and/or geographic area.

• Performs a search of several databases, buyers guides, trade association directories, and other resources (electronic and hard copy) to help identify potential partners.

• Works with you to develop a survey targeting your interests, then conducts phone interviews to all selected companies (20 or more).

• Summarizes survey results in written and matrix form with conclusions and recommendations.

  WISC will develop and implement a project plan to help you decide if a licensing strategy is right for your product. Projects are completed within 30 to 60 days.

Starting a Licensing Partner Project