Analysis of markets, product concepts and licensing partners > Feasibility > Annual Plans Selection of licensing partners and negotiation of agreements > Licensing-in > Licensing-out Development of strategies to enhance license relationships > Licensor > Licensee       The brand license sales process includes the development of a category sales strategy and a business plan for the licensed product. Typically, the license sales process involves seven phases: Creating category sales strategy Developing sales materials and business plans Qualifying prospective licensees Meeting with and presenting to prospective licensees Negotiating license terms with prospective licensees Creating marketing plans Developing license agreements Prospective licensees should be evaluated based upon operational, financial and marketing capabilities. The ideal license candidate is strong in each of these areas and is willing to make contractual commitments to ensure the success of the licensed product business. See contract development to learn more.