Here we provide brief answers to a variety of questions that come up frequently.
What is the responsibilities of a licensee?
In general, a licensee is responsible for the following:
- The licensee sets licensing goals and establishes objectives
- The licensee develops and maintains a licensing plan (minimum cadence: annually)
- The licensee engages with prospective licensors
- The licensee develops, manufactures and markets licensor-approved products
- The licensee monitors the marketplace for signs of counterfeit goods related to the licensed IP
- The licensee delivers royalty reports and payments to the agent/licensor
As an agent, what roles does Totemic play?
Totemic engages with its clients, including artists and licensees (manufacturers/wholesaler/retailers) and in some cases, distributors, in the following areas:
- Totemic specializes in strategic licensing program development and management
- Totemic develops key licensee/licensor relationships
- Totemic negotiates license agreement terms and conditions
- Totemic is responsible for negotiating its agency representation agreements
- Totemic works closely with artists to develop licensing assets
- Totemic administers royalty and commissions programs
- Totemic can handle a variety of client-side operational needs