Shireen Smith (from YouTube) - Part 1 Licensing And Franchising, What Is The Difference And Does It Matter?

There is widespread confusion about an aspect of franchising and licensing which is caused by the difference between the laws in the USA and the UK. So, I will be clearing up the confusion that I see in many articles online.Franchising is a way to scale a business once the business model is successful and provenA franchise agreement will usually give the franchisor the ability to control how the business is runThe franchisor is expected to provide support to its franchisees in the form of marketing, access to trusted suppliers, systems, and other resources and skillsFranchising a business involves finding franchisees with the necessary skills and experience to operate branches of the same businessLicensing is essentially how you exploit intellectual propertyFranchising is a type of licensing arrangementThe details of the terms and conditions in a licensing agreement will vary considerably depending on the business transaction you’re aiming to achieveBefore you embark on licensing it’s essential to ensure you have the necessary intellectual property rights in placeAnother example of how licensing can be used involves giving access to your methodology for doing somethingUsing the wrong terminology, such as giving an exclusive licence to someone can destroy the owner’s rights to exploit its intellectual propertyAccess the 7 Costly Mistakes to Avoid When Branding or Rebranding eBook when you subscribe to TUNED NEWS.Brand Tuned's Newsletter