Factors that contribute to a successful licensing program
Powerful Brand
- High brand awareness
- Clearly defined brand equities
- Devoted customer following
- Proactive trademark management
Corporate Buy-in
- Endorsement from senior management
- Commitment of an internal licensing champion
- Responsive interaction with licensing agency
- Allocation of required resources
- Regular communication of marketing initiatives
Proper Program Planning
- Well-defined licensing program goals
- Timely approval of the Strategic Licensing Plan (SLP)
Optimal Partner Selection
- Broad market research
- Intensive due diligence
- Prioritized selection criteria
- Mutually beneficial license agreements
Compelling Product
- Reflective of the brand's equities
- Attractive price/value ratio
Execution and Management
- Proven processes, systems and tools
- Aggressive pursuit of infringers
- Routine partner and program evaluation
