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If a brand has become widely known and popular, it may be in a position to license other companies to develop and sell products using the brand name in return for royalties.

Brand licensing allows the brand owner to generate profit from other categories without having to invest time and money developing new capabilities and gives the licensee a way to make its products more appealing to customers.

Check out 'The Smart Marketing Book' for further details.

What to learn more? Try asking Virtual Dan White.