Most people know what real property is. Think of the house you own or the land you own as investment property. It is something tangible you can sell. Intellectual property is another type of property you can sell.
I am a serious writer. Even though, I have a day job, my writing sales and the rate of pay I receive on the magazine article sales meet the definition of a professional writer.
In recent weeks, I have been working on a business plan for my writing business. Writing business? What am I talking about I can hear you ask? I’ll explain.
As a writer, I create things with my mind. Wikipedia explains: “Intellectual property (IP) is a legal term that refers to creations of the mind. Examples of intellectual property include music, literature, and other artistic works; discoveries and inventions; and words, phrases, symbols, and designs. Under intellectual property laws, owners of intellectual property are granted certain exclusive rights. Some common types of intellectual property rights (IPR) are copyright, patents, and industrial design rights; and the rights that protect trademarks, trade dress, and in some jurisdictions trade secrets. Intellectual property rights are themselves a form of property, called intangible property.” Source: http://en.wikipedia.org/wiki/Intellectual_property
One of the steps in developing my writing business plan is to an inventory of my intellectual properties. Think of the intellectual property as the inventory I have in my warehouse to sell and re-sell.
Blogs and Websites
I started with my blogs and websites. I have three active sites and a couple of inactive sites with content. The blogs and websites are intellectual properties. The posts on the websites are intellectual property. I have written for a number of websites. I own the rights to the articles I wrote.
I have written numerous short stories over the years. Many have been published. Some have not been published. They are all intellectual property. I can resell some. I can make into short story collections. I can turn them into novellas or novels. I have four in print available on Amazon.
I have written over 1000 poems in my lifetime. They are all intellectual property. I can resell some. I can sell them or self-publish as poetry collections.
I have one book in print.
Books in Progress
I have a completed nonfiction manuscript from twenty years ago I could rework. I have a completed historical fiction novel I am shopping. I am about finished with the first draft of a science fiction novel. It is book one of a four book series. I have a second science fiction book that is based on a series of short stories tied together similar to The Illustrated Man or The Martian Chronicles.
I have my doctoral dissertation I could rework into a nonfiction book.
Nonfiction Magazine Articles
I have over a dozen traditional published articles in the print trade journals and magazines. These can be resold or worked into collections, etc.
I found over 250 essays I have written through the years. Add these to the available material I own. I love these works of nonfiction.
Customer Service Articles
I have two dozens plus customer service articles. Can you say future nonfiction book on customer service?
Meet the Pulitzer Prize Winning Poets
I have over twenty blog post that profile a Pulitzer Prize Winning Poet. They could easily be developed into a nonfiction book.
Newspaper and Newsletter Columns
I have over 1500 I wrote in a fifteen year period that I owned the rights. Surely, some can be reworked or redeveloped.
I have over 250 published. I was syndicated for eighteen months where my reviews were a regular feature in a magazine.
Maybe you are like me and keep everything you write. If so, you have a large collection of intellectual property. You can sell English right, foreign language rights, e-book rights, print rights, audio rights, movie rights, etc. After the inventory is complete, it’s time to go make some sales.
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