Q: Are there IP attorneys that help find licensing deals for established brands? Can you point me in the right direction?
I own a trademark for a popular Los Angeles tourism service that has an established fan base and website attracting thousand of visitors daily. The name is synonymous with Hollywood and people recognize it the moment they see/hear it. I'm looking for ways to capitalize on the brand name by (for example) licensing it to tv shows, tour companies or other business targeting tourists and celebrity fans. What are my options? Are there IP attorneys that help find licensing deals for established brands? What should I expect to pay for such service or are there other profit sharing terms that could be negotiated? Please point me in the right direction if you have experience with such deals.
A: You can work with an intellectual property attorney to develop a package before you contact companies that seek licensing deals for intellectual property owners.
A:
When I work with intellectual property owners, we develop a package that presents a compelling value proposition to the prospective licensee. They have to know why it is worth their time to even look at a presentation. They have to know what they are getting and what they are not getting. I have seen people who have a truly great idea think that they will make money because of their idea's merit. It does not work like that. Nikola Tesla, who had the incredibly important idea of alternating current power distribution, died alone and destitute. Yet some large companies that exist today "conquered the world" with products that took a long time to debug. I have not seen an instance in which simply offering a name has worked.
See the disclaimer at the bottom of this page.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
