With virtually thousands of brands available for licensing, it is important to create clear licensing objectives. Prospective licensees want to know:
- What are the best available brands?
- How strong is the brand fit and relevance for my products?
- Would the brand increase or cannibalize my current business?
- How strong is the licensor’s core business (retailers and consumers)?
- Does the licensor have appropriate trademark registrations in pl ace?
- What support services does the licensor provide (e.g. product development, distribution, promotion)?
- What are the licensor’s product quality/testing requirements?
- How long will it take to secure the license?
- What is the initial investment and ongoing expense of the license?
- Do I have sufficient resources to commit to the license (e.g. financial, personnel, time)?