WHAT IS LICENSING?
Licensing is the process of leasing a trademarked or copyrighted property for use in connection with a product, service or promotion.
Licensing is the process of leasing a trademarked or copyrighted property for use in connection with a product, service or promotion. The property could be a name, likeness, logo, graphic, saying, signature, character or a combination of several of different elements depending on your needs. The licensing agreements that property owners and licensees make have the potential to unlock powerful brands with in-demand products that drive real value to both parties and boost so the sales to new levels.
Companies large and small make billions of dollars each year in retail sales of licensed merchandise. From "Toy Story" action figures to t-shirts with the Nike logo, the potential to leverage a brand for licensing or license out a beloved brand are vast. In reality, there is no limit what is possible. You name it.
A walk down any shopping aisle illustrates the major impact that licensing has on both the consumer and an increasingly diverse range of retailers, brands and manufacturers. Licensing can extend a brand into new categories, areas of a store or into new stores entirely. It is a way for brand owners to increase their current fan base and move into new businesses without major investment in new manufacturing processes and also allows retailers and manufacturers to stand out from the competition and offer consumers the hottest brands as well as drive sales. In short, you gain millions of new fans by using the fanbase of your license partner.
Imagine you team up with Automobili Lamborghini which have, over 23 Million fans alone on Instagram. Guess what will happen to your follower base and what impact it will have on your product, brand or service.