Brand licensing is a strategy of brand management that expands the influence and market share of a brand by empowering other businesses or individuals to use their own brand. Here are a few key steps for brand entitlement management:
Decide who to license: First, you need to determine which businesses or individuals you want to license your brand to. This usually depends on factors such as the licensee's recognition of your brand, professional capabilities, and market presence.
Develop an authorization policy: Having a clear licensing policy is an important step in brand licensing management. This includes provisions on the scope of authorization, the duration of authorization, the conditions of use, licensing fees, and the protection of rights and interests. Ensure that the licensing policy is consistent with the brand positioning and core values, while protecting the brand's rights and image.
Screening and review: When selecting authorized objects, strict screening and review are required. Evaluate factors such as its operational strength, market reputation, professional competence and compliance to ensure that the licensee has a good business reputation and ability to effectively promote brand development.
Sign a licensing agreement: After reaching a consensus with the authorized object, you need to sign a formal licensing agreement. The agreement should clarify the rights and obligations of both parties, including the scope of use, quality standards, marketing, conditions for termination of authorization, etc.
Licensing management and supervision: Once a licensing agreement is signed, brand licensing management involves not only contract execution, but also supervision and management. Conduct regular performance evaluations of authorized persons to ensure that they use the brand correctly in accordance with the agreement, prevent abuse and infringement, and take timely steps to respond to violations.
Maintain brand image: Maintaining brand image is crucial in the process of brand authorization management. Maintain close communication with licensees, build good relationships, and provide the necessary support and training to ensure that they can accurately communicate the values and spirit of the brand.
In short, brand licensing management needs to comprehensively consider various factors such as brand strategy, business cooperation, and legal compliance. Ensure that the authorization management is standardized, the authorization object is appropriate, and the cooperative relationship is close, which can effectively promote the development of the brand.