Commercialization of Copyrights | EXCELON IP – Copyright Advocates
Copyright is awarded to someone for the artistic creation of their intellectual minds. A copyrighted work gives one the exclusive rights of ownership to the creator. The creator can realize the true potential and worth of this intellectual property asset only by commercializing it in the market.
It takes creative effort, hard work complemented with a lot of research to create something new and once some innovation is done, the creator deserves to commercialize it and reap the fruits of their intellectual mind. Copyright Attorneys at EXCELON IP offer Copyright Commercialization Services with an affordable fee structure.
What is Copyright Commercialization?
Resources like that of intellectual property rights are one of the significant reasons behind the creation or success of a brand. The intellectual properties are not acquired by entities for litigation purposes but to have transferable ownership over a few of the most significant intangible assets. Valuation of intellectual property rights helps you determine the real worth of your entity.
Transferable Rights
The rights of a legally protected copyrighted work can be transferred and assigned from one person or entity to another. For instance, a musician usually signs a contract with the recording company in which the musician transfers his rights to the company in exchange for royalties and like considerations.
Copyright Valuation
Copyright protects various kinds of work such as literary and artistic works; broadcasts as well as computer software and cinematographic as well as musical recordings. Finding the valuation of the copyright requires an in-depth knowledge & understanding of the specific businesses where the copyright operates.
While conducting a valuation of copyright, many approaches are considered from different angles:
- Market-based approach: Involves significant use of indicators of value through practices like buying & selling, licensing & franchising of copyrights.
- Income-based approach: Considers the futuristic commercial benefits, at the same time considering the risk involved, for a specific time period to a current value.
- Cost-based approach: Gives importance to the historic cost of creating and obtaining copyright and the time required in the present state to create the same copyrighted work.
One of the significant deliberations of copyright is the expected life of the owner of the copyright and the duration of the copyright — the most significant element which escalates the value. Copyright valuation is also the evaluation of royalties that will be required to pay under the licensing agreement, comparing different components of the market with licensing agreements.
How to Commercialize Copyrights?
A copyrighted work can be commercialized by many means, viz. by transfer of rights, by license, or by assigning the rights. If you have created something which has wider potential in the market then it should be commercialized and leveraged to its maximum highest potential. In the highly competitive environment of the developing economy of India, it is very important to commercialize your creation to get a market entry — wherein, licensing is the most common approach for market entry.
Licensing vs Assignment
- Licensing: The owner of the copyrights grants certain rights of use to a licensee (withholding certain rights like moral rights) on a temporary basis in return for considerations like royalties.
- Assignment: Usually involves selling the rights exclusively through an assignment document to an assignee for a one-time lump sum consideration or through a low royalty stream for a long time to the assignor.
Commercialization gives you quick entry into the industry, and also reduces the amount of effort, marketing and resources — you don’t need to produce and distribute yourself. We are a team of experts at Excelon IP distinguishably experienced in the field of intellectual property rights. Our Copyright Commercialization experts are always glad to help you with better commercialization strategies which suit your commercialization scenarios.