You’ve got a great brand, it’s trusted in your sector, your customers like it – other companies in other markets are viewing what you have with envious eyes. You’d be quite happy to break into their market place too because at the moment your sales in their sector amount to very little – maybe even nothing at all.
Your brand on another market leaders product will give them a competitive edge. It will also allow your brand to stroll into their sector and their customer base with minimal input from yourself. They’ll make more profit with their new “brand”, you’ll create a new income stream with no cost of goods! Does that sound like a win win? It is!
Everyone’s shareholders will be happy too! This ideal scenario is the desired outcome for all brand owners and one that we fully comprehend, however sales like these need careful handling. It’s a marriage and like all partners you have to choose them carefully.
Target country licensing research
Lime’s team initially carry out a series of research tasks that identify country specific challenges, IP threats, vulnerabilities and of course solutions! This may also require legal input from a resident legal professional and certain other IP related activities. Remember also that when you go into other countries your brand might mean something completely different and the consequences of that range in severity from irrelevant or amusing to offensive and damaging!
With that out of the way, we create a target market sector list based on a significant amount of research and discussion with your team! To be an elite licensed brand you’re going to need imaginative input from licensing professionals with multi channel experience, and when that is mixed with the imagination of your team the results can be quite amazing.
We then divide each sector into the major players and profile who the best fits and biggest players are. We also profile who the fastest growing brands are too because it may be that you want to be associated with a rising star rather than an old stager! Sometimes you’ll get more royalty income by being a prominent part of a companies portfolio rather than just another brand in a large product range.
Licensing Sales Effort
We spend large amounts of telephone time chasing licensing deals and we utilise slick keynote presentations in our sales efforts. Delivering compelling copy and enticing possibilities for potential licensees is what we do best. We put in the leg work and can be patient for the long haul because a deal today may not even come to market for a years time or longer.
Post Licensing Sales
As each market sector license is signed off our brand compliance work runs smoothly in the background protecting your interests and ensuring that agreed terms are met or exceeded. Occasionally, for genuine reasons contracts need to be renegotiated and we have a lot of experience to draw upon to lead those negotiations. In many ways having us on board helps dispute resolution and Lime’s team has specific mediation and conflict resolution training to arrive at a satisfactory outcome for all parties.
Find out more about Brand Name Licensing Compliance here.