I recently licensed a patent to a business. There was a great deal of market research and market understanding that we used to develop a list of prospects. Once you have prospects, you can target key contacts within businesses and organizations that could benefit from the intellectual property. The key is not just have a concept, but materials that effectively communicate the value proposition for the business, without selling. Infographics will become value when clearly demonstrating the market opportunity for the business -- without them having to think too deeply. When it's a fit for their gap and you've jumped ahead and solved a problem they hadn't spent the time or money developing yet, the licensing opportunity emerges.
For us, the license worked best when the business had a vast distribution network, organized logistics, and processes to implement the IP. We stayed on to support the technical implementation and gained extra service fees from expertise in the concept/IP, product integration, and implementation. That was a second revenue stream in our sell that you may also pursue.
