It is the dream of every budding entrepreneur is not only to get associated with top notch brands but to work with them and be a part of them. For this the mediators or the licensing consultants help them get their dreams come true by assisting them to the right and progressive opportunities. These top licensing agents or specialists not only offer them the brand options but also provide them complete services till taking care of their licensing process, advertising, media, program advisory, readying the roll out, business plan strategy, PR and many more. But it is very important to choose the right kind of licensing agents who are not only well versed on the subject but also are known for their success stories. Following are the parameters to make a correct choice in hiring the right licensing company, but prior to that it is important for the upcoming entities to know the meaning of licensing and its importance.
Definition of Licensing
A license
is a contract through which a licensee leases the rights to a legally protected
piece of intellectual property or IP from a licensor - the entity which owns or
represents the property -- for use in partnership with a service or product.
Licensing is defined as the procedure of leasing a trademarked or copyrighted
entity (known as a "property") for use in combination with a promotion
service or product. The property could be a saying, signature, character, likeness,
logo, name, graphic or a blend of numerous elements.
Importance of Licensing in India
The
significance of licensing as a business plan has enhanced over the years as a
result of expanded industrialization, which has led to declining real estate resources
and elevating infrastructure costs. Establishing concrete assets now needs not
only exceptional attempts and investment, but also an extended burden of risk.
Businesses are remodeling by cultivating or obtaining abstract assets and utilizing
these as alternate or additional sources of wealth. With time, collaborations
and alliances involving licenses of strong IP have become critical to a
business’s success.
Factors for selecting licensing professionals for your businesses’
expandable growth and profitable turnovers:
- While selecting first analyzes the name and reviews of the brands and clients they have catered in past, current and in pipe line.
- Make sure the professionals are well versed with the current market trends and are able to predict success of the business in future.
- Check the licensing firms strengths like
Their Bandwidth
- Category wise business development team
- Elaborate IP legality
- Financial Team
- Brand Assurance team
- Consultants and strategists aids to direct the brand
- Well penetration offices in India
Knowledge
- Have number of global agencies
- Well penetration network in each industry
Intellect
- Service end to end brands
- Exposure to all kind of licensing
- Being global brand run by ethical way of licensing
These top licensing agents in India also help
you to understand the legalities of the contract and assist you to sign the
correct copy of agreement, thus enhancing your dreams of becoming successful
entrepreneurs of top notch brand family.
