For a company looking to expand, franchising and licensing are often appealing business models. Freebase(0.00 / 0 votes)Rate this definition: Brand licensing. Licensing means renting or leasing of an intangible asset. It is a process of creating and managing contracts between the owner of a brand and a company or individual who wants to use the brand in association with a product, for an agreed period of time, within an agreed territory. A license allows an IP rights holder (the licensor) to make money from an invention or creative work by charging a user (the licensee) for the manufacture and marketing of the product or service. A licensing agreement is a legal contract between two parties, known as the licensor and the licensee. The definition of Licensing aka The definition of Brand Licensing: Licensing is the practice of leasing a legally protected property (such as a trademarked or copyrighted name, logo, likeness, character, phrase or design) to another party in conjunction with a product, service or promotion. Brand licensing is an important tool for increasing brand exposure and awareness, and its an efficient way to create additional income streams for a brand. Guidelines to establish better connect with consumer Guideline One: Extend a strong Attribute / Performance Characteristic Association. A fee or royalty is charged by the licensor to the licensee for the use of intellectual property right. A well-functioning corporate licensing program can help a brand to expand into new categories and territories, adapting to new trends and a changing marketplace. For instance, a beer company thats based in Europe can license its name to an American brewing company. Cobranding is a marketing partnership between at least two different brands of goods or services. Licensing is a potentially lucrative path for product development and marketing but also a complex, often fraught, partnership. Example Amul (milk association) Example Fair & Lovely (skin fairness benefit association) Guideline Two: Extend an association with a For example, the brand and trademark licensing allow the licensee to use it in specific geographical regions or for a specified period. Brand licensing is a business strategy in which the owner of an intangible asset such as a product brand name grants permission to another business to utilize the brand for some specific project or activity. Typically, this type of arrangement requires the creation of what is known as a licensing agreement or contract. The licensing contract explained. Working with another brand gives you instant access to their customers and audience. Licensing means nothing more than the renting or leasing of an intangible asset. The second company, known as the licensee, agrees to manufacture and distribute the new product lines. An example of intangible assets includes a song (Somewhere Over The Rainbow), a character (Donald Duck), a name (Michael Jordan) or a brand (The Ritz-Carlton). Definition of trademark licensing 2. It is based on a contractual agreement between the owner of the property (or its agent) known as the licensor; and a Celebrity Licensing. It also enables companies to differentiate their product from competitors and communicate attributes of their products to consumers. Image via El Corte Ingls Kelloggs Stretching a Brand with Baby Steps in Brand Licensing: Marmite What is the definition of a brand licensing agreement? A license allows the licensee to use, make and sell an idea, design, name or logo for a fee. Definition of Licensed Brands. Licensed Brands means all brands of Miller Parent or its Subsidiaries set forth on Schedule 2 hereto and any other sub-brands of such brands. Thus, brand licensing is the process of creating and managing contracts between the owner of a brand and a company or individual who wants to use the brand in association with a product, for an agreed period of time, within an agreed territory. Brand licensing refers to a brands leasing to a business other than the owner of a company. http://www.theaudiopedia.com What is BRAND LICENSING? Discover which IPs will perform well at retail at Europes largest event dedicated to licensing and brand extension. Different ways of licensing trademarks 3. Business benefit of trademark license risk of diluting the brand image and compromising the reputation of the company it may be an option to convince the infringer to obtain a license . Numerous items can be part of a licensing agreement, including a trademark, a patent, or even branding. A clearly defined licensing agreement is the key to a successful brand enterprise. What does BRAND LICENSING mean? Intellectual property control and management are integral responsibilities licensors take on when licensing their brand. Brand licensing Licensing means renting or leasing of an intangible asset. Much of the growth is spurred by the fact that licensing provides enormous strategic, marketing and earning benefits to Brand and trademark licensing is a type of licensing in which a licensor permits the licensee to distribute his products using his brand name. Cobranding encompasses several different types of branding partnerships , And with consumer products - The leased brand is then used in a particular manner, in a defined territory, for a specified time. Celebrity licensing is more common in the apparel and beauty industries. However, setting They provide an online and print magazine for the licensing industry. This is very common in sports and entertainment. In a typical licensing agreement, the licensor grants the licensee the right to produce and sell goods, apply a brand name or trademark, or use patented technology owned by the licensor. How Licensing Works The established company brand or designer, defined as the licensor, offers its trademark to other firms making different types of products. Companies extend their brands via licensing for a variety of reasons. License (part of Advanstar Global Licensing): a leading forum where manufacturers, property owners, and retailers connect to strategize merchandising, promotions, and exclusives; evaluate product and sales performance; and explore co-branding opportunities and brand extensions. Licensing is used by brand owners to extend a trademark or character onto products of a completely different nature. Merchandise & Character Licensing Definition and Meaning: Merchandise & Character Licensing is the licensing of a recognized trademark or brand that the licensor typically controls through a registered trademark or copyright. Instead, the brand licenses its name to a manufacturer that takes on all the production and Usually, the license is limited: Licensing your brand essentially means forging a partnership with another business one of the main benefits of marketing partnerships is being able to reach a wider audience. Form TMLA-Brand Owner Feb 25, 2005 Page 1 of 1 This Agreement is between NatureWorks LLC with offices at 15305 Minnetonka Blvd, Minnetonka, MN 55345, USA ("NW LLC") and Company (Licensee) Address Phone Fax Email The parties agree as follows: 1. Once the rights have been secured, the licensee manufactures product using the licensed IP, and in return pays the licensor a royalty for its use. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. An arrangement to license a brand requires a licensing agreement. With licensing, the investor gets a specific item. It is, however, one that many companies and brands are not taking advantage of. Brand licensing is a shortcut way to gain immediate access to all the positive brand quality. Licensing means renting or leasing of an intangible asset.It is a process of creating and managing contracts between the owner of a brand and a company or individual who wants to use the brand in association with a product, for an agreed period of time, within an agreed territory. Brand licensing is defined by the Business Dictionary as the act of leasing a brand name to another company. Brands (the licensor) frequently license out their name to a company (the licensee) who can produce goods that require specialist manufacturing or distribution. The license relates to the permission to use a trademark and style for production andor distribution of one or more product categories. It is also defined as an opportunity to extend value. Lets use the videogame Fortnite. A simple explanation of celebrity licensing is: an existing business/brand licenses the name and image rights of a celebrity to imply that a specific product or It is essential that your brand licensing agreement specifies what is expected of For a product manufacturer, licensing is obviously a way to gain more attention for your products, which makes it a part of a company's overall marketing strategy. Branding. The licensing contract typically entails a relationship between two parties: a licensor (the brand owner) and a licensee (the manufacturer). A licensing agreement is a contract between two parties (the licensor and licensee) in which the licensor grants the licensee the right to use the brand name, trademark, patented technology, or ability to produce and sell goods owned by the licensor. For example: Huge popularity of Reeses peanut butter cups created an immediate need for other peanut based chocolates. In a franchising model, the franchisee uses another firm's successful business model and brand name to operate what is effectively an independent branch of the company.The franchiser maintains a considerable degree of control over the operations and processes used by the franchisee, but also Licensing Agreements Law and Legal Definition. By definition brand licensing is the renting or leasing of an intangible asset. This type of licensing depends on specific contractual forms. The firm that permits another firm to use its intangible assets is the licensor and the firm to whom the license is issued is the licensee. The main reason why companies can choose to brand products or Brand licensing is something that larger and famed brands do to ensure their fan following remains with them for all the product categories that their fans can relate them to. Brand Licensing Examples include Dior/Gucci/ PRADA/Armani/Versace etc. etc. almost all major fashion retailers do not make their OWN EYEWEAR. The licensing of company names, logos, or brands (referred to as corporate trademark/brand licensing) is one of the fastest-growing segments of the licensing business. Brand extension (also called brand stretching) is a marketing strategy where the company makes use of its existing established brand name for a new product or a new product category. Brand licensing enables companies with brands that have high preference to unlock their brands latent value and satisfy pent-up demand. The technical definition of licensing is the process by which a brand or property owner extends a trademark or character out of its principle environment and onto products of a completely different nature.. For example: Under licensing system, Coca-Cola and Pepsi are globally produced and sold, by local bottlers in different countries. Grant of License. The brand license definition is a licensing agreement that gives permission to a company to produce or market a product or service from the original owner. Brand licensing is a way to help get some return on this investment without directly stepping outside of the companys core business areas, as explained in this video. This new product or product category (called a spin-off) substantially different yet logically related to the well-known original product. It is a process of creating and managing contracts between the owner of a brand and a company or individual who wants to use the brand in association with a product, for an agreed period of time, within an agreed territory. Brand ProgramDocumentation The Open Brand Trademar k License Agreement (TMLA) Januar y 1998 ISBN: 1-85912-275-2 Document Number:X982 Published in the U.K. byThe Open Group,Januar y 1998. Uniform Reciprocal Licensing Act: A law that regulates unlicensed insurers. Brand licensing is one of the most widely used ways to extend a brand, largely because it allows a brand to achieve new product introductions without gearing up operationally for the task. 3. A product (or merchandise) license allows licensees to leverage popular IP to create branded products, usually for a specific period of time. In essence, the company is renting the use of the product or service from the owner. The rights of the licensee are fully outlined in the agreement for the license, which may allow them to sell items, use a trademark, or take advantage of a specific brand message. A brand is a name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellers. Brand licensing is a brand extension strategy that enables a brand to get into new product categories outside the core business of the brand owner. Definition: The marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products.