Do I Want to Franchise? (Hint: No)

In this episode, I share a LinkedIn Live event that I hosted to talk about some important Intellectual Property (IP) concepts and concerns. If you have a professional services-based business, a clear path to scalability and salability is finding an effective way to license your personal IP. Simple right? Not in today’s world. Depending on the scope of the license, and any additional bells and whistles offered as part of the package, you could be setting up a franchise structure. While franchises aren’t necessarily bad, they are highly regulated, and the regulations vary from state to state, so it is not an optimal first step when monetizing your IP.

We’ll cover:

How an IP license is the optimal way to scale your services-based business
The difference between types of licensing structures, like certification and franchising
How to avoid crossing the line from certification to franchise
As a bonus, I go through the importance of knowing if you own your IP and the trap of sublicensing.

This podcast goes over some of the key basics to IP as it applies to your business. If you are thinking about scaling up and you want to look into whether and how to do it, I’d love to connect and work with you on taking your business to the next level.

Connect with Erin to strategize how you might use an online community to help make your business scalable and saleable. hourlytoexit.com/podcast.