5 tips from Partner International on Global Licensing Strategy
Going global? Partner International can help.
Last month, BioNova hosted a Lunch & Learn with Partner International on global licensing strategy and global expansion plans tailored to the life sciences sector.
Partner International is a leading international business development service provider in the life sciences sector, completing billions of dollars of transactions, over its 17 years of operation, while executing business development mandates in companies from big pharma to start up biotechs. They have clients all over the globe, including their first Chinese client they recently closed.
They help life sciences companies with accelerating business development transactions and anything in the corporate development sector. Some common transactions in life sciences deals include licensing, partnering, collaborations, mergers, investment & distribution. Partner International can do it all.
The first step in going global is understanding where you are and where you want to go.
– Mark Regular, Executive Director of Business Development
Here are 5 steps you’ll take with Partner International:
- Define objectives and criteria for potential partners
In the business development process, a crucial first step is defining specifically what you expect from your potential partners. This ensures your company can build a mutually beneficial relationship right from the start. Let Partner International’s 17 years of experience guide you.
- Find the right person in a company and build those relationships
If your company continues to reach out to the same contact and continues to receive the same “Sorry, we’re not interested”, don’t give up! Mark and Joanne (Co-Founder and President) know who to contact and can get you that meeting.
- Build a valuable IP portfolio
Your company needs to show why and how it’s unique. What makes your company’s product or service stand out? Where’s the data to back it up? Do you have any patents or copyrights?
- Don’t underestimate the importance of interdependence
The business development process can be complicated and there are many factors to consider. From your suppliers to your governance, and from royalties to warranties, these roles are all connected.
Put in the work. This shows a willingness of both parties to collaborate and be professional. It can also be a predictor of the future relationship with the potential partner. Partner International knows a thing or two about partners!
Partner International will help you take over the globe, one deal at a time.
Executive Director, Business Development