Expanding Market Opportunities Through Licensing

Simply put, licensing is a business tool that commercializes your business' intellectual property and brand. Through intellectual property laws, the intellectual property owner is able to create a monopoly, restricting third parties from using/commercializing its intellectual property. Licensing creates a controlled mechanism for third parties to use the intellectual property, which creates an additional revenue stream for the intellectual property owner. It can be quite lucrative. In fact, according to the International Licensing Industry Merchandisers' Association, global license merchandise sales was valued at $262.9 billion in 2016, with an increase of 4% from the previous year.