Hi Duncan ~ I mean that IP strategy should include building your technology so that you can retain and protect certain parts of the IP while licensing out other layers of a complex application to OEM or SaaS customers, and ultimately being able to sell off a particular application to a buyer with a combination of non-exclusive and exclusive licenses. I often use this selling of a particular application (or vertical, or territory) as a creative way to infuse new capital into a company without loss of equity. To do this, the IP must be designed (and layered) from the beginning of development. This is a case (again) of considering exit strategy and capital strategy in the very early stages of a company’s development. Much of my consulting work is focused on this — creating wealth for founders and early investors through these strategies. Hope this explanation helps.