#MentorHours by Lawyered on 'Franchising vs. Licensing: What’s better for you?'
What is a Brand License Agreement?
A Brand license agreement is a business contract shared between two parties. A licensor, who owns the product or brand; and the licensee, who purchases the license with the intent to work with the existing product or brand. Simply put, it is a contract that allows one company to use another company’s intellectual property.
Why is it important?
Brand licensing partnerships allows brands/licensors to explore and expand into new product lines
It help in significant expansion of their customer base.
It’s much easier for your brand to reach new markets with a licensing deal
It reduces the risks for both parties involved.
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ABOUT THE AUTHOR
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Oct 14,2020 | 5 min read
