Golden oldie number 4. Should IP Draughts hire Tony Blackburn to introduce them…?
For the inexperienced businessman, it is the most natural question in the world. How much, he asks his advisers, should I be charging for this IP licence? His opposite number, the inexperienced licensee, may similarly want to know: how much should I pay for this licence? Unfortunately, there is rarely a simple (and unarguably true) answer to this question.
If you sell cabbages in a street market, it is important to know the market price of your goods. Sell at too high a price, and you are left with perishable stock at the end of the day. Sell at too low a price, and you may be able to go home early, but you haven’t maximised your profits. You can go round the other stalls and see what price is being charged there. You can compare your prices with those in the local supermarket. You can remember what price you…
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