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Latent Value
Value that exists but has not been realized as yet.
Licensable Assets
Licensable assets are provided to the licensees by the licensor authorizing them to use on, or within, licensed merchandise. They are in the form of a style guide for logos, brand names, marks, photographs, designs and other imagery owned.
License
A legal authorization given to a licensee by the licensor that permits the licensee to make use of a brand name, logo, mark or piece of intellectual property on a specified product or service, in a specified channel(s) of distribution or territory for a specified length of time. Also known as License Agreement.
License Agreement
See License.
Licensed Merchandise
Merchandise bearing the licensor's brand name, logo, mark or any other licensable assets. These are developed, manufactures and marketed by licensees who have been authorized by licensors in a license agreement.
Licensed Products or Articles
See Licensed Merchandise.
Licensed Property
The brand, logo, mark or copyright owned or held by the licensor. The licensor authorizes the licensee to use the licensed property in the development, manufacture, marketing and sale of licensed merchandise.
Licensed Trademark
See Licensable Assets.
Licensee
A person or entity who receives permission under a license to use licensed property in the development, manufacture, marketing and sale of licensed merchandise.
Licensing
The renting or leasing of a brand, mark, or logo by a licensor to a licensee.
Licensing Agent
Develops and manages licensing programs for licensors and licensees. The agent brings the two parties together to consummate the license agreement in return for a share of the royalties.
Licensing Application
A submission form required to be filled by a potential licensee, which includes pertinent information required by a licensor for the assessment of the licensee. The information includes company data, sales history, distribution, marketing and financial information.
Licensing Inbound
The acquisition of a license for use by a licensee.
Licensing Outbound
The granting of a license by a licensor.
Licensing Program
The activities undertaken once a license agreement is signed such as licensee orientation, style guide approvals, development, manufacture and distribution of licensed merchandise etc.
Licensor
A person or entity who is the owner of the licensed property, brand, logo or trademark and who grants the licensees the right to use the licensed property on merchandise and sell licensed merchandise under a licensed agreement.
Logo
A unique symbol or emblem that acts as a trademark or a means of identification of an entity or institution.
Logo Slap