18 Jan Certification Marks: Hidden Value and Revenue in Your Business
Coaching and consulting businesses have been on the increase in recent years. I have noticed the most successful to be those that have incorporated a “certified” consulting and/or coaching program. For any consulting or coaching business this seems to be a great business model for adding a stream of revenue.
Why does the addition of a certification program potentially increase your revenues? Income can be generated by (1) the tuition charged to the coaches or consultants for the taking part in the certification program; (2) thereafter, referring clients to the certified coach and retaining a percentage or a royalty or finders fee; (3) requiring annual or biennial certifications; and (4) licensing the content shared with the certified coaches or programs.
Not only do these actions create direct income, the intellectual property assets can add substantial value to your business. This is also why it is important to protect and own the rights to that intellectual property.
As related to programs such as those employed by coaching business, the relevant form of intellectual property is a Certification Mark. A Certification Mark can be any word, name, symbol, or device, or any combination thereof, that is used by a person other than its owner, to certify a process, quality, material, mode of manufacture, accuracy, or other characteristics of such person’s goods or services, or that the work or labor on the goods or services was performed by members of an organization. The Certification Mark is used to certify that the work or services was performed by a person who meets certain standards , completes courses, X hours of training and/or tests of competency set by you the certifier. Used in this manner, you as the certifier, control the quality of the services and the consulting or coaching process.
If you have developed a following and would like to expand your business without having to provide all the services yourself, creating a certification program and certifying others to carry on your message, process, and know-how, and sell your material to their following is a great way to add revenue to your business. As the certifier you get to set the standards of those you certify, you can control the quality of the service and if not up to your standards revoke the certification.
Not only can you add value by getting a Certification Mark, but you can also legally license out your content to the one you are certifying. The copyright in the material you create and they use, sell, and teach is a valuable asset to your business.
If you have questions about adding an asset to your business by creation of your own certification program contact the Law Office of Jason H. Rosenblum, PLLC today at (888)666-0062 to discuss the details first.
DISCLAIMER: The information contained in this article is for informational purposes only and is not legal advice or a substitute for obtaining legal advice from an attorney.
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