Commercialization of Industrial Design | Valuation of Industrial Design | EXCELON IP – Design Patent Company
If you have created an industrial design then it is definite that you want a return from your creative efforts. Once you have created something ornamentally unique you must think of reaping the fruits of such creation by finding its valuation and commercializing it in the market. EXCELON IP helps to identify values and worth of such creation and commercializes your asset to realize its true potential. We are the premium IP Law Firm, offering Industrial Design Commercialization & Design Valuation Services with an expert team of Design Patent Attorneys in house.
What is the Commercialization of Industrial Design & its benefits?
With the changing times turning towards a more innovative, idea-driven and creative civilisation, intellectual property rights are of great worth in the economy. Design is an expression of creativity produced by an intellectual mind and the creator should reap benefits out of it by its commercialization. Commercialization of design requires an effort to monetize which is why if the creator strategizes the commercialization process of design, then it is possible to commercialize such design. The method of using intellect and creating something entirely unique is very intensive, in terms of all viz. Time and capital. Value of your novel and original design lies in its monetization and not merely in creation. It is because of the unique designs that sometimes drives the market and gives you a competitive escalation in the industry.
Hence, commercializing your creation will allow you to have a fair share from society against publicly disclosing your creation. Well, assignment and licensing are the popular methods of getting your design monetized. Basically, an assignment is the complete transfer of ownership from the owner to any other interested party. Here, the assignee settles to pay the amount of such intellectual property rights at a lump-sum price. Whereas, licensing provides a right to a licensee on a temporary basis for consideration and also retains the ownership rights of such design of the article. Licensing agreements are basically long term business-relations or partnerships. therefore, it is pretty much common to conduct due diligence and signing of preparatory agreements such as Non-disclosure agreements and material transfer agreements which in-turn helps both the parties mitigate their risks while negotiating. Also, the rights granted to the licensee must be specified clearly in the agreement so that the licensee can exploit the patent rights optimally and also avoids any confusion.
Valuation of Industrial Design | How to evaluate the worth of an Industrial Design?
But before commercializing your original designs you need to know about it’s worth in the market. It requires a valuation check which also helps us estimate the market trends as well as market behaviours. IP valuation is a very important part of commercialization as it also gives a chase to competitors and first to tap the change in the industry monopolises the market of the same. It helps in realizing the true worth of your creativity viz. It’s market value & once you know the worth of your design, then you can reap the fruit of your efforts by licensing it exclusively or non-exclusively. There are many practical methods of finding the valuation of your creation. The valuation of the design is affected by many factors like how people respond to your design as well as it’s demand in the industry. A distinguished analysis of the valuation for your design will help in creating a better licensing agreement and will help you realize the maximum benefit from your invention. A better valuation for your creativity will also help you reach informed decisions. As we all know by now, intellectual property rights help to create a future in an entity as well open the doors for entry to the market and help escalating businesses.
We are a dedicated team of professionals at Excelon IP, providing Commercialization Industrial Designs and Valuation of Designs at affordable fees, along with other IP services to our clientele. We believe in helping creators realize the true worth of their creativity in the industry and help them realise their true potential.