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What is an example of licensing?
Examples of licenses include a company using the design of a popular character, e.g. Mickey Mouse, on their products. Another example would be a clothing manufacturer like Life is Good licensing its designs and brand in a certain country to a local company.
What is an example of brand licensing?
Licensing means renting or leasing of an intangible asset. ... Examples of intangible assets include a song (“Somewhere Over The Rainbow”), a character (Donald Duck), a name (Michael Jordan), or a brand (The Ritz-Carlton). An arrangement to license a brand requires a licensing agreement.
What is an example of a licensed brand?
Licensing means nothing more than the renting or leasing of an intangible asset. 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). An arrangement to license a brand requires a licensing agreement.
How does licensing a brand name work?
OPEN Forum describes brand licenses as legally protected agreement[s] through which a third party leases the use of the company's brand, name, or likeness from another entity. In its simplest form, it's a contract that allows one company to use another's trademarked creation.
What does it mean to license something?
Licensing. Definition: A business arrangement in which one company gives another company permission to manufacture its product for a specified payment. There are few faster or more profitable ways to grow your business than by licensing patents, trademarks, copyrights, designs, and other intellectual property to others ...
What is a licensor example?
A licensing agreement is a legal contract between two parties, known as the licensor and the licensee. ... For example, a retailer might reach agreement with a professional sports team to develop, produce, and sell merchandise bearing the sports team's logo.
What does licensor mean?
Licensor. A person or a company with exclusive legal rights over a thing that gives, sells or otherwise surrenders to another a limited right to use that thing. The person benefiting from the grant is called a licensee and the legal term used to describe the authority, so given is license.
What is licensor and licensee?
The licensee is the party that receives a license, while the licensor is the party that grants the license. For instance, if a bar owner gets a liquor license from the state where he operates his business, the owner is the licensee and the government that issued the license is the licensor.
What is a licensing company?
Licensing involves obtaining permission from a company (licensor) to manufacture and sell one or more of its products within a defined market area. The company that obtains these rights (the licensee) usually agrees to pay a royalty fee to the original owner.
How does a licensing deal work?
A licensing agreement is a legal contract between two parties, known as the licensor and the licensee. 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.
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