2. According to Andrew Wakefield the transfer
of rights to manufacture or market a particular
product to another individual or organization
through a legal arrangement or contract. It
usually requires that a fee, commission, or
royalty is paid to the licensor.
Isa practice of allowing a manufacturer to
affix the idea ,character , design , or other
representation owned by another to his
product.
3. The licensing is just a marketing tool, although
some experts consider it a "weapon" with many
opportunities
It is an contractual agreement between two
business entities whereby the licensor (selling
firm) allows the licensee (the buying firm) to use its
Technology
Patents
Trademarks
Designs
Processes
Intellectual property
in exchange for a fee or a royalty.
4. The major objective of licensing system is to give effect
to the industrial policy of the government.
To regulate the location of industrial units so as to
secure a balanced regional development.
To protect and promote small scale sector.
To regulate foreign capital and technology.
To maintain a proper demand-supply balance.
To encourage exports and the substitution of imports.
To conserve foreign exchange.
5. Profitable business strategy, particularly
when the economy begins to flourish again.
Is an excellent option for the entrepreneur
to increase revenues, without risk.
Licensing can also be a way to start a new
venture when the idea may infringe on
someone else’s patent, trademark, or
copyright.
Powerful marketing tool
6. Of licensing for the licensor are the loss of
control over the technology and the
associated risk of exploitation or piracy of
the intellectual property.
Inadequate support from the licensor
The pay of royalties in a local currency
Import restriction and tariffs that are
suddenly imposed after a company has
established a market for its products in the
country through exports pose a difficult
problem for the company
7. Toys
Licensing is very popular in the toy
industry, because it allows toy manufacturers
to come out with many new toys each year.
Even toys based on popular movies and
television shows are licensed from their
inventors. You may see licensed toys from
Batman Begins, Star Wars, Harry Potter, and
Shrek at your favorite department store or toy
store.
