November 19, 2018
Originally posted 2018-11-19 10:38:57
By Gloria Han | amdlawgroup.com
Whether a company is small or large, licensing can be beneficial in a multitude of ways. Not only can licensing bring about an increase of revenue, but also can expand a company’s outreach and establish a permanent, recognizable brand. Establishing a brand name is a valuable marketing strategy that distinguishes a company from the rest of its competitors. There are a couple of steps to consider if a company should want to license its fashion brand:
1. Licensees look for companies already established in the market. Having an established retail base where a company’s designs are apparent can help determine high sales rates.
2. A company should seek advice from its attorney or law firm and extensively research the originality of its logo, slogan, any written materials, or the products in order to avoid any legal issues. In the event that a problem arises, a company should settle this dispute before taking any further action.
3. If there are no legal issues, the company should proceed to register its trademark at the United States Patent and Trademark Office. The cost of can range from a hundred to a thousand dollars.
4. A company should make sure to have a good reputation with retailers and focus on its quality rather than profit to maintain the image of the brand. Repeated history shows that companies make the mistake of forming too many license agreements, leading to a decrease in its product quality.