Licensing As Personal Finance Strategy
“Holly Baxter was a stay-at-home mom looking for ways to make ends meet when she met Laine Caspi at a parents group. Caspi had recently started marketing a baby carrier that she’d designed, and she offered Baxter a deal: Think of a baby product worth selling, and Caspi would get it to market and give her a percentage of the proceeds.
“Baxter came up with Teeny Towels — all-natural antibacterial wipes small enough to hook onto a keychain. The product is too similar to basic baby wipes to patent, but it’s distinctive enough to package and promote. Last year it paid Baxter $5,000, and the product is likely to produce more in royalties this year because a number of large retailers recently agreed to carry it.”
Kathy Kristof. Parent Inventors Turn Brainchild Into Cash. LATimes.com. Feb. 5, 2006.
CopyCense™: K. Matthew Dames on the intersection of business, law and technology. A business venture of Seso Digital LLC.