As I explained in the previous article, startups can choose to share or partner up with others for mutual benefit. Startups like yourself would enter into these sorts of partnership arrangements as a part of your endeavor to do everything legally/ethically as possible; not only that, this would improve your bottom line and sustain/increase profits.
This can be done in various ways.
You can do things like: arms-length licensing, strategic alliance building, joint ventures, consultancy... and the list really does go on.
But of course, these require formal and contractual arrangements that involve licensing "in and out" of one or more types of IP. Often, you would do both - engaging in "cross licensing" where both parties license IP to each other.
But is cross-licensing effective? You can read more about it here.
The mechanism of licensing provides startups (you) with a variety of possibilities for improving your market position. From a business perspective, it is important to weigh the pros and cons of licensing with other alternatives for commercializing services and products.
We will write more about the pros and cons of licensing in the next article, analyzing the main advantages and disadvantages of licensing, but primarily in the context of technology licensing in Korea.
These are the sub-topics to be included in the article: patents, patentable inventions, know-how, copyright law... (to name a few!)