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Chapter 1 Licensing 101
In This Chapter Getting the lowdown on licensing jargon Checking out the benefits of licensing Knowing which types of properties are licensed Looking at licensing agreements
icensing is the process of leasing a legally protected (that Lis, trademarked or copyrighted) entity — a name, likeness, logo, trademark, graphic design, slogan, signature, character, or a combination of several of these elements. That entity, known as the property or intellectual property, is then used in conjunction with a product. Many major companies and the media consider licensing a significant marketing tool. In fact, licensing has become one of the most powerful forms of mar- keting and brand extension.
This chapter gives you an overview of licensing, from master- ing licensing lingo and understanding the benefits of licensing to looking at the types of properties that are licensed and studying the basics of a licensing agreement. UnderstandingCOPYRIGHTED Licensing MATERIAL Lingo Licensing is usually based on a contractual agreement between two business entities: