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Just like oil was the wealth creator in the 20th century, intellectual property is now the wealth creator of the 21st century. But the problem is most IP owners don't understand how to manage and make money with their IP. The result is too many IP owners making too many mistakes and bad decisions that end up costing them time, money, lost income opportunities and even their IP rights. Licensing is a process of doing certain activities to transform IP into income. At its most basic level, it involves proving an IP works and then finding a partner to license it. But there are many steps in between, and these are the parts of the licensing process that no one tells you about. Inside this book are all the "how-to" steps in the licensing process - from protecting an IP to finding a partner, creating the right IP story, secrets to negotiating the best deal terms, using the right licensing strategy, avoiding the biggest licensing mistakes, and more. Rand shares his three decades of experience licensing all types of IP including Hollywood blockbusters, medical devices and health care technology, consumer products and brands, food and beverages, educational content, training systems, and more. Whether you are new to the world of licensing, need advice on what to do with your IP, or ready to take your licensing activities to the next level, this book is for you.