P&G Licenses Some of its Own Technology

Consumer products maker Procter & Gamble Co. said on Friday it had licensed intellectual property to an unidentified Fortune 500 company, adding that it was exploring similar licensing deals with a range of other companies as an extra way of making money. The licensed technology, called Reliability Engineering, is designed to improve manufacturing efficiency, P&G said. It has helped the company cut manufacturing costs over the past decade and consists of 23 methods to overhaul a production line, P&G said. The Cincinnati-based company, whose products include Tide detergent, Crest toothpaste and Pampers diapers, did not disclose the terms of the licensing agreement. Procter & Gamble’s vice president of external business development and corporate licensing, Jeffrey Weedman, said in a statement he expected such licensing agreements to generate “significant income” for the company over the next few years.

“By making our technologies available to others, we can greatly extend their benefits, well beyond our brands, and maximize the investment we’ve made for our shareholders,” Mr. Weedman said. P&G is now working to license the technology to customers in industries ranging from automobiles to consumer goods to food-processing, Mr. Weedman said.