Businesses can no longer afford to simply protect their intellectual property (IP) and use it defensively to prevent competitors encroaching on their territory. Moving to actively licensing IP is increasingly critical for open innovation, provides a powerful mechanism for revenue generation, and is a means of creating breakthroughs in innovation. In this article, the authors describe a multi-faceted approach to licensing, and set out some practical steps which describe how to use licensing to capture greater value from technology portfolios. [...]
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