Copyright, Trademark, and Intellectual Property for Entrepreneurs

Lesson 10 of 10

Policing Your IP

 

Copyright, Trademark, and Intellectual Property for Entrepreneurs

Lesson 10 of 10

Policing Your IP

 

Lesson Info

Policing Your IP

Licensing is another way for you generate money from your intellectual property here's what licensing is it's basically a situation where you are renting your I p okay, so you know how if you had a piece of real estate right let's say you purchased an apartment and then you decided to travel around the world for a year or just moved or whatever but you kept the apartment and then you rented it out and got a tenant who pays you on a monthly basis to live in that apartment right? You couldn't do that exact same content concept with your intellectual property, so let me give you an example let's say you created a program right you created you know, maybe a consulting program or coaching programs you have a specific method that you take your clients through toe have certain breakthroughs or get certain results ok? And so you know, you might want to license that out you could rent that content to other coaches so let's say your coach and you work with, you know, let's say fifty or one hundr...

ed clients a year and that's your capacity that's the max amount of people you could work with, ok, you don't have any more time in the day to work with anymore people, but the demand is there, so one of the options is to license out your coaching program or you're certain methods that you used to work with your clients and let other coaches actually facilitated so you would license out your program and let them use that program to take other additional clients through your program okay, so this is a way for you to really expand the reach of your work and generate more revenue without increasing the amount of time that you're working ok, we like more money, less work, right? So that's what licensing khun do it's an incredibly powerful tool and I really hope that you will consider creating a licensing path in your business in one way or another because it's away free to generate additional revenue you on dh like I said doesn't create more time for you doesn't put more strain on your resource is ok doesn't create mohr expenses for you to cover ok, so a licensing program is a great great option and I've had a couple of clients who created different programs you know, licensing programs either through you know they might have a coaching service or consulting service. There are other ways that you can do it to you khun license at your content in a lot of different ways I've also had climbed to um wrote a book and then license that content to a larger company and that larger companies sort of white labeled it right so the larger company puts their stamp of approval on it um and their name on it as if it's their work right? And so they pay a monthly fee for the privilege of using that content and putting their name on it right? Or you might have a situation where you're paid a royalty for that company to use it and same thing with a licensing program you might have licenses who pay you a monthly fee or an annual fee depending on how you want to structure it toe have access to your content so this is really huge and something that I would encourage you to definitely check out licensing is actually what I'm doing right now, right? I'm teaching for creative life so I'm taking my content on licensing it too creative live and creative live is providing, you know, sort of a system or a method for me to teach this content okay, so that's another example of licensing your content it could be very, very valuable, but of course one thing I want you to know is when your life into your content I want youto always register the copyright for that content before you do it because what can happen is especially if you're dealing with a bigger company that maybe has more negotiating power than you do as an individual ours a you know, small business or an entrepreneur, I want you to make sure that you're registering your copyright and registering your trademark so that that bigger company doesn't get into a position where they can then misappropriate your work or use your work without paying you the licensing fee or things like that, right? You want to protect that work, you know, you know, slap your label on it, make sure you've created boundaries around your work, it's clear that you've created it, you own it, and then you can license it out. Ok, that's, what I would always do. All right, so let me give you an example of a licensing program. This is, um, called the desire map licensing program. This is an entrepreneur. Maybe you've heard of. Her name is daniela port. She created a program called the desire map, right and it's all about getting in touch with what you want to get out of life, right? And so I don't know if it be considered coaching or consulting somewhere in that room, but she created this program and she's got all these materials a book there's, a workbook, there's, all kinds of guides and different pieces to it that come with this desire, matt program. And so what she did instead of going out and trying to teach this program to everybody in the world, right into all the entrepreneurs who might want to learn about it. Instead of trying to do it all herself, what she did was create a licensing program which I think is a brilliant I love it. Ok, I want to see you do things like this. This is where this is a way where you can really kill it as a small business owner. Okay, you can totally do this even if you're small. All right, so what she did was she greeted a license program where people who are maybe coaches or consultants and, you know, she has certain parameters that she is looking for, right? But you could apply to be a licensee. And so what you would do is you pay her annual licensing fee. You two get access to all of this content into her program, and then you'd get to do workshops where you teach this program to your, you know, clientele, all right. So instead of having to, as a coach or workshop facilitator, create your own content, which could be a lot of work, you know, and there's some benefits to that. But maybe instead of doing that, you just want to use somebody else's content that already exists, and that's awesome, right? So you would take, you know, you become a licensee, and then you can facilitate your own workshops using this desire matt programs so that's an example of a licensing program and I hope that you'll think about other ways to incorporate licensing into your business because it can be incredibly valuable okay, so now that we've covered that oh oh one thing I want to say before we dive in so there's a couple of steps to licensing so I don't want you to just do it willy nilly okay? So like I said, first up is you're going to register your content so register your brand name, you're going to register the actual copyright for all the content that you're going to license out and then next you're gonna have an actual licensing agreements you're going tohave a contract with whoever you're licensing your content tio that creates crew clear parameters so one of the terms that might be in there is do they have an exclusive license? So if you you know, you know, license you're content to a larger company they might say, hey, we want to make sure that you're not giving anybody else this content we want those sort of monopoly on this content so we want an exclusive license, right? So if they want to exclusive license or to charge more for that, okay, if it's not exclusive meaning that you could sell that license to this company and then this company and that company in that company then, you know, you might charge a little bit less for that. So there's a different ways that you can do it. And so off course. You always want to be controlling how your intellectual property is used and shared with the world. So you have to have a licensing agreement, and also you'd want terms and conditions and privacy policy related to your content. So, especially the taliban on a website, make sure you have a privacy policy in terms and conditions, and you might even want to require your licensees to have all of their customers or clients sort of comply with that privacy policy in terms and conditions. So so those are some of the pieces to creating. A licensing program is totally within your reach. And I just wanted you to know how you go about doing that.

Class Description

In order to succeed, every entrepreneur needs a strong understanding of how intellectual property laws affect his or her work. Do you have what it takes to be your own best advocate?

Join Rachel Rodgers and learn the intellectual property concepts every small business owner should know. You’ll learn how content marketing can expand your brand, and how to ensure that your brand, content, and ideas are protected.

Drawing on her experience as an attorney, Rachel will demystify potentially confusing concepts like patents, trade secrets, and more. You’ll leave this class ready to defend your business and grow it to new heights.

Reviews

Julz P
 

Very good, covers all topics very well. I enjoyed learning about licensing, as a small business owner I never thought about it and how it could create another revenue stream. Thank you!

Folasade
 

Rachel is awesome! This course provides loads of helpful information for online entrepreneurs (at a very reasonable price) that I will be putting into use very soon! :)

Andrew Clark
 

Just watching a "free" preview; Rachel seems very thorough about this much needed to know subject. Thank you Rachel and I hope you continue to offer more legal type courses for us creatives!!!