thank you so much for this explanation . I am wondering the same thing from the standpoint of Director as well with this organization. Appreciate your answers!
Great content!!! So if a business becomes a Licensor, they would have create a Trademark, Patent, or Copyright and License it out to the Licensee for a fee?
Thanks. The business does not have to have a formal Trademark, Patent, etc in order to license it out, but it might make it easier. A business that has something that others want to use can license it out, such as training materials, market information/data, production methods, software, etc. From a business and accounting perspective, if a company has something that others can use to make money then they can charge a license fee for the use of it.
Very educative content. Keep more coming
Thanks
thank you so much for this explanation . I am wondering the same thing from the standpoint of Director as well with this organization. Appreciate your answers!
Glad it was helpful, best of luck.
Great content!!! So if a business becomes a Licensor, they would have create a Trademark, Patent, or Copyright and License it out to the Licensee for a fee?
Thanks. The business does not have to have a formal Trademark, Patent, etc in order to license it out, but it might make it easier. A business that has something that others want to use can license it out, such as training materials, market information/data, production methods, software, etc. From a business and accounting perspective, if a company has something that others can use to make money then they can charge a license fee for the use of it.