This is the introductory course in the Licensing Executives Society’s Intellectual Asset Management Series and it is designed for those who are relatively new to licensing. It is specifically aimed at:
- Those who are considering a career in licensing and Technology Transfer,
- SMEs who require an introduction to licensing,
- Entrepreneurs who need to understand the value of their IP,
- Professors of entrepreneurship and
- Students interested in learning the basics of Intellectual Property (IP) and how to commercialise IP through licensing.
What does the course cover?
An overview of IP and IP Licensing, divided into five Modules, with examples, exercises, and interaction between instructors and fellow students in each Module:
- Module 1: Introduction & IP Basics: This Module introduces, defines, and gives examples of the different types of IP including patents, trademarks, copyright, designs and trade secrets.
- Module 2: Basics of IP Commercialisation & Licensing: Introduction to Licensing, including reasons for licensing, description of licensing agreements, infringement, competition law, and relationship-building.
- Module 3: Determining Reasonable Licence Fees & Royalty Rates: This Module talks about risks and rewards, different valuation methods (Market, Financial, Cost) and their pros and cons, together with royalty structures.
- Module 4: Managing Risks: Identify the different kinds of risk and how to manage them, i.e. confidentiality, infringement, liability, collection of royalties and other fees.
- Module 5: Licensing Game: Students put into practice what they have learned by dividing into licensee and licensor teams that then discuss and negotiate terms on a licensing case study. At the end of the session all teams report their results and reasoning.
How long is the course?
One full day. Modules 1, 2 and 3 are presented in the morning, and Modules 4 and 5 in the afternoon. Module 5, with its negotiating and reporting sessions, is the longest of the five.
Lunch is included.
LES100, as with all LES courses, is taught by LES member volunteers who are active practitioners in their fields.