Step 1.  Perform an intellectual asset inventory and mapping.

Ideally this should have already been done to ensure there are enough high-quality intellectual assets to make a licensing out program worthwhile.

Step 2.  Evaluate opportunities through technology and market analysis and evaluation.

Again, the preliminary work should have already been done by using the automated segmentation portfolio analysis methodology described in that section of this book.  For the high-value art identified more detailed an updated analysis should be done. The Patent Evaluation Map developed by Harry Grinnell as described in this book is a good first start for evaluating opportunities.  Another good method for evaluating opportunities is the following analysis process: