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Marketing Terms (A–Z)
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(strategic marketing definition)
A relatively simple, low risk linkage that allows a manufacturer to "enter" new markets. It is an arrangement in which a licensee is given the right to use a process, trademark, patent, or other proprietary item for a fee or royalty.
(global marketing definition)
An agreement between two companies in which the licenser grants the right to the licensee to sell a patented
in specified markets for an agreed-upon fee. It is a tool for participating in foreign markets without large capital outlays. When capital is scarce, when import restrictions forbid any means of entry, when a country is sensitive to foreign ownership, or when it is necessary to protect trademarks and patents against cancellation for non-use, licensing is a legitimate means of capitalizing on a foreign market.
The right to use a property's logos and terminology on products for retail sale. Note: While a sponsor will typically receive the right to include a property's marks on its packaging and advertising, sponsors are not automatically licensees.
American Marketing Association.
> (cited 3 June 2015).
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