If you want to use your IP to create new revenue streams, start by assessing your business and your products. Do you have a product or service that can add value to your target clients? Watch the video to find out more!
According to Statista, the number of intangible assets of the Top 5 companies on the S&P 500 Index amounted to US$ 21.03 trillion in 2020. That’s a far cry from their tangibles that only totalled to US$ 4 trillion.
That only means one thing — companies have more intangible assets than their tangibles.
Your Intellectual Property or IP falls under your intangible assets. And with the statistics shown above, it means that you have lots of opportunities to turn them into new revenue streams.
Different Forms of IP
As an IT services consultancy firm, some of the IP assets you can monetise include:
- Copyrighted materials such as books or ebooks
- Trademarks – your brand name, logo
- Website addresses
- Trade secrets — business strategies, methods, and processes
How to Monetise Your IP
At Loading Growth, one of the most valuable IP assets we have are our business growth strategies.
We created and incorporated them into our business processes.
They proved to be effective because we saw growth in our business and an increase in our revenues.
We created a business growth strategy based on our processes…
A process that can be duplicated.
An evergreen process that can be used over and over again.
We presented it to others, they used it, and it worked.
It has become a profitable asset of our company.