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Possible to license an idea (not for a product or prototype) or business strategy/model?

Discussion in 'Planning Your Business' started by summersab, Aug 12, 2016.

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  1. summersab

    summersab Entrepreneur

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    I've read a decent amount about licensing products or ideas for products. However, is it possible to license a concept, strategy, or idea for improving a company? Here are two examples (I could come up with more):
    • Instead of founding Dollar Shave Club, the founders decide to approach Gillette with the idea and license this it to them. Gillette then starts a subscription razor company.
    • Pretend that the idea of layaway hasn't been created, yet. A customer reaches out to Walmart, licenses the idea to them, and Walmart launches this offering for Christmas sales.
    Neither of these ideas has a "product" or a "process" associated with them, so I'm not sure how you would establish any IP to protect them. Is it possible to license such things?
     

  2. VirtualGlobalPhone

    VirtualGlobalPhone Moderator Entrepreneur

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    @summersab , welcome to entrepreneurfix.

    As per my knowledge you can. Meet a local IP lawyer. They will help you to put this in a format and file it.

    Best wishes..
     
  3. summersab

    summersab Entrepreneur

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    @VirtualGlobalPhone, any idea what type of filing would be needed to protect something like this? I would think it would be some sort of patent because trademark and trade secret don't really apply, but it doesn't seem to fit those parameters, either . . .
     
  4. Ewa

    Ewa Entrepreneur

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    What about having your Business Plan written down, and put a license/ patent on it? Basically an idea on a legal paper.
     
  5. Wanderer1689

    Wanderer1689 Entrepreneur

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    Are you sure if the local Ip lawyer can help on this one?
     
  6. VirtualGlobalPhone

    VirtualGlobalPhone Moderator Entrepreneur

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    @ wan
    @Wanderer1689 ; Have you approached any ? whats the feedback you got ?

    One has to file the IP from local reachable authority. IP's are normally associated to country of origin and legal backup is normally provided from that country. Again ! its not as simple as these few words .. it may changes its shape for some country like China and Hong Kong.
     

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