Do you ever think about the amount of intellectual property that you provide your prospects and customers free of charge? While it is empowering (and kind) to share your knowledge with others, it is also beneficial to build a valuable asset which in turn creates an income stream. It is possible to monetise your intellectual property (IP) with the right strategy and system in place. After all, you have spent the most valuable asset of all while gathering that IP, which is your time.
In this article, we unpack what your IP is, how to protect it and what monetisation models work best to package and sell it. We look at building a learning management system (LMS) which is an excellent channel to monetise your intellectual property.
Intellectual property, or IP, refers to intangible creations of the human mind. This broad category encompasses things like literary works, scientific discoveries, artistic designs, and even things like your logo and brand name.
As we discuss content creation and how to package your knowledge into courses, it is also important to know how to protect your IP. It is everything from your blog posts or course videos to your website design and logo, nearly every original element you create for your course falls under intellectual property.
There are many ways to monetise your IP. The important rules are to choose the most suitable monetisation model, implement a well-planned strategy and build a solid foundation to package and sell your content.
Here we’ll delve into building a learning management system (LMS) to monetise your IP. Firstly, you should carefully consider whether an LMS is a suitable platform for your content. Consider whether your IP is well-suited to an online course format where it can be broken down into modules with clear learning objectives. Also, consider who you are trying to reach. Understanding your target audience’s needs and their preferred learning styles will influence your platform choice and course design.
There are many LMS options available on the market when choosing the right platform, both open-source and paid.
Factors to Consider:
Choose a monetisation model that is the most suitable way to package your knowledge and sell your intellectual property to your target audience. There are a few options available, or you could offer a mixture of options to create choices and offer discounts to your loyal customers.
strutoCX LMS is a powerful learning management system built for purpose on HubSpot that allows you to package your intellectual property and market it to your desired target audience. To ensure the user experience is a delightful one, the Struto team hold customer experience at the forefront of everything we develop. Being empowered with the right tools that allow you to control the learning experience is key to success.
Here's where your expertise comes in! You could have the most amazing LMS, with ideas and strategy in place to package and sell your IP. But without original and engaging content that offers true value, your plans will most probably not come to fruition.
It takes a lot of time and hard work to create delightful content for your customers. However, if you have expert knowledge and a solid strategy with the right LMS in place, you could use tools such as HubSpot’s Content Hub for a helping hand with your content creation. The AI-powered Content Hub allows you to create and manage content with a single source of truth.
When planning your course content, remember to structure your courses with clear modules and learning objectives. Use a variety of content formats like text, slides, infographics, video, audio, and quizzes to keep learners engaged. Furthermore, you could have interactive elements like discussions and assignments to promote deeper learning.
- Ryan Waters, Solutions Architect at Struto
Some additional tips for success include:
Your Intellectual Property and How to Protect It
Even big brands that pay millions for their trademarks and copyrights continue to be copied, so the risks are out there, but knowing how to protect your IP is key. It can be easy for someone to steal your IP if they wanted to, however, intellectual property laws do protect us and if you can prove that the original content is in fact yours, then you have legal grounds to challenge it.
There are measures you can put into place to protect your IP (and to help prove that someone has stolen it).
Here are several tips on how to protect your IP:
Building a learning management system takes time and effort, but it can be a rewarding way to share your knowledge and generate income. By choosing the right tools for the job, considering these steps, and consistently delighting your customers, you can turn your intellectual property into a valuable online learning experience.
If you would like to discuss the power of uniting HubSpot Content Hub with strutoCX LMS, please feel free to reach out to our advisors for a chat.