What is the Early X Process?
It is a creative problem-solving process designed to discover and monetize multiple new commercial opportunities within existing intellectual property/patents or pre-patent research projects. Simply we, we expect to generate multiple new revenue streams from a single IP asset.
In 2011 the then-titled 15X Pilot Project within the Graziadio School of Business and Management was a brilliant success. It identified more than 130 new licensing opportunities for four IP assets not previously explored by the University of California Santa Barbara. 15 X has been since renamed “Early X” to clarify where the process falls in the IP monetization cycle.
Why is the Early X Process different from others?
The Early X Process is based on “creative problem-solving” perfected by Dr. Larry Cox, Entrepreneurship Program Director at the Graziadio School, Pepperdine University. Additional differentiation highlights are:
- Focuses on one mission to identify and realize optimum return on research expenditures and investments
- Marries the resources of experienced business executives with brilliant innovators and entrepreneurial MBA students/alumni for widest, deepest and earliest discovery of monetization prospects
- Early X facilitates and enables the bundling of complementary IP assets from multiple sources to maximize long-term value extraction
- Discovers and executes multiple monetization opportunities (revenue streams) from a single IP asset, AND ay create new patents or extensions to existing patents/pre-patent research during the Early X process
The Early X Process
The process is a five-step method: Research, Discovery, Feasibility, Opportunity, Marketing & Sales. Depending on the complexity and number of IP assets being reviewed this process may take between 3 to 9 months. It may also be divided into individual modules that best fit our partners requirements. For instance we may perform the Discovery, Feasibility and Opportunity modules and our partner may conduct the Marketing & Sales. It is a very flexible yet powerful process.
Additionally, we will train large and small groups in this process so that they can internally exploit their owned IP assets.