Sports Licensing

Sports Licensing Author’s Name Institutional Affiliation Course Code and Name Professor’s Name Date Sports Licensing Licensing is legal permission that is given to other people by an intellectual property owner, which allows them to distribute, use, or modify the property under some conditions. Sports licensing involves permitting the use of the sports names, logos as well as any other intellectual property of a team for commercial reasons. Indeed, it gives an opportunity for companies to create as well as sell merchandise that features the brand of the team such as accessories and apparel (Leeds et al., 2022). There is a negotiation between the sports teams, licensors, and the manufacturers or retailers, licensees, which makes the licensing agreement. The license agreement carries the royalties, terms, and restrictions put in place to guide the use of the intellectual property. Through sports licensing, the teams are able to generate revenues as well as extend the reach of their brand by selling the products that are officially licensed. Through sports licensing, the licensee has several benefits including market credibility whereby the products that are officially licensed always depict quality as well as authenticity, which as a result enhances the licensee’s brand image as seen by the customers. Additionally, licensees utilize the market opportunities related to sporting events as well as using key g...