Your company invested untold amounts of time and resources in the development of a new technology.
But somewhere along the way, the business decided to go in a different direction and the technology took a backseat to other innovations. Now your technology is collecting dust; the resources you invested in its development are long gone and you have nothing to show for your efforts.
But the technology may still have real value to someone in the marketplace. The fact that your company isn't using it to its full potential doesn't negate its worth to other companies. The trick is finding a sales channel that allows you to quickly locate buyers and sell licenses with a minimal amount of effort.
The process of selling a technology license online meets many of the criteria sellers look for in the B2B technology marketplace. Apart from a few, basic preparatory steps, you won't have to expend enormous amounts of effort in the transaction as buyers will essentially come to you through the websites(s) on which you list the technology. For the right sellers with the right technologies, online tech licensing is clearly the way to go.
- Broader base of buyers. Websites have a much broader reach than traditional sales channels. Once your technology is listed on a technology licensing website, it has the potential to reach a global audience. For a small business that owns an in-demand technology, the licensing fees you sell to a global audience can become a significant revenue stream.
- Confidentiality & anonymity. Tech license sellers often prefer to remain anonymous, at least until they have identified buyers for their technology or legitimate licensing targets. Online listings give you complete control over the process. Third-party sites will shield your identity from the marketplace and you only have to respond to the invitations you approve.
- Cross-industry promotion. It's not unusual for technology sellers to limit their prospect list to contacts within their industry. But online technology and licensing services are not industry-specific. That means your technology will be exposed to buyers from a variety of industries – not just the buyers in your Rolodex.
- Sales assistance. Many third-party site providers offer some level of assistance to sellers. Since it's in their best interest to help you quickly unload your assets or licenses, they are incentivized to make the process as easy and hassle-free as possible. If you are unsure about how much to value your licenses, you may be able to contact the site provider for pricing assistance.