Marketing licensing and partnering is a powerful tool in enhancing the marketing muscle of a brand that a standalone campaign might never achieve. Marketing licensing means you give someone else the license to use your brand name to develop products under that name for a predetermined fee. Marketing partnering involves engaging with another company that has a complementary product to yours. By combining your marketing strengths and promotional capabilities, you maximize the use of your marketing dollar.

Both marketing licensing and partnering are effective if you know what to do, but the results can be disastrous if you don’t know what you’re doing. You need to ask yourself:

• Is the partnership a win/win for both sides?
• Does your association with another company enhance your brand?
• Is this a company I can work with? Are they organized, aggressive and respectful of my product or service?
• Do you have the legal representation you’ll need to complete this arrangement?
• Do you know how/what to negotiate?
• What communication and financial reporting systems need to be implemented on both sides?
• How do we define success?
• How do we handle situations if one side isn’t fulfilling its obligations?
• And occasionally … when it is time to move on?

Marketing licensing and partnering can extend your products or services, but it is not for the faint of heart or the beginner. You need MarketingWise Group’s experience in both marketing licensing and partnering.

Our work typical marketing licensing work includes defining the need/opportunity and setting the specifics for identifying appropriate partners. We’ll then find that partner and make the connection.

We’ll also oversee the contract negotiations and help coordinate a smooth partnership or marketing licensing startup.

The MarketingWise Group has over 40 years of collective marketing licensing and partnering for marketing … both in the U.S. and internationally.