23 Jan Are You Maximizing Your Assets? Content Licensing Overview
Every for-profit business in existence is, at its core, in business to do one thing: make money. Yes, you have a product/service that you feel will benefit consumers but without making a profit, your business will not last. The question is: Is there a way to further enhance your bottom line beyond your brand’s original intent? The answer is: Yes!
Content licensing allows the licensor (the owner of the intellectual property) to realize monetary benefits beyond their product’s/service’s original focus through incorporating earned rewards and recognitions with your marketing efforts by granting usage licenses to a licensee (the entity that acquires the rights to use the intellectual property). How does it work?
A licensing management team negotiates and drafts a customized licensing agreement curtailed to fit your marketing requirements.
The licensing team then secures logo rights, content rights, and usage permission for use in:
-Advertising (print, internet, radio, TV, etc.)
-Inbound/outbound marketing materials
While the concept may seem simplistic, the details are best handled by professionals so as to make sure the proverbial i’s are dotted and t’s are crossed. But once those letters have been given proper attention, you will have a new revenue stream that will not only improve your bottom line but it will also increase your exposure to the public. Win-win.
Here’s what our Executive Vice President, Brian Kolb, has to say about it: