Packaging Your Own IP
MONETIZING YOUR INTELLECTUAL PROPERTY
Any technology solutions company (partner) with a substantial installed base of customers may already have intellectual property that has been developed in the course of past projects.
The experience your company has of customizing software, writing custom code, building methodologies for implementations and developing assessments are all candidates for your company’s own IP which can be used as a differentiator and a source of new revenue. The challenge is to turn these snippets of code, how-to’s and templates into products that can be standardized, packaged, sold and delivered repeatedly.
The first step in identifying the IP your company may already have is to review all available information from past sales where your expertise was recognized by customers as adding significant value to the final solution.
Specifically, services that were instrumental in leading to customers’ improved efficiencies, lowered costs, increased competitiveness and resulted in better business outcomes are the most likely to be a source of your own IP that will succeed as a product.