2.  Licensing is an agreement that gives a company the right to use another’s brand name for a fee.  The licensor is the company or individual granting the license for a fee in this legally binding contract.  The licensee is the company or individual paying for the rights to use the licensor’s name or property. ▪ Ex.) The NFL (licensor) grants product licenses to Reebok (licensee) to use the NFL logo and team logos on their goods.  Apply to apparel, key chains, toys, sports equipment, food products, video games, etc.  However, both sides must be careful in selecting the right choice!

3.  There are 2 forms of licensing. The 1 st type of licensing is:  Endorsements involve using a celebrity or public figure to represent and promote a company and that company’s products.  When searching for an endorsement, the following factors are considered: 1.May simply involve an association with the product. 2.A company may choose a sports figure who matches the demographic profile of its customer base. 3.Top sport endorsers come from all sports, but have one thing in common- successful careers; may even get a signature product line. 4.Sell products when the endorser has a positive image and is popular. The World's Highest-Paid Athletes The Richest Athlete Endorsements Ever Endorsement Speakers

4.  The 2nd type is:  Sponsorships are the promotional vehicles that financially support sports events. ▪ Promotional packages may include licensing rights, stadium promotions, product sampling, signage, product sales, billboards, free tickets, and on-site merchandising opportunities.  Types of sponsorships:  Signage: sponsors’ names appear on the scoreboard, rafters, or rotating electronic screens. Ex.) NASCAR  Entitlements: one major sponsor for an event. Ex.) PGA  Facility Entitlements: a company purchases the promotional rights to an entire stadium.  Product Exclusivity: only one product in a product category is granted sponsorship. Ex.) Coca-cola (official soft drink)

5.  & this is going to be a fun one… 1. As a class, we will vote to decide who would be the best athletic candidate to endorse “Business Education”. 2. Now that votes have been counted, this person will be the “NEW” endorsement for the class. 3. But in order to solidify this endorsement, they will be made into a life-size cardboard cutout…to impart their knowledge of Business Education on generations to come.

6. 4. Now here is where everyone else comes in…you will each be selecting a clothing item (from my secret jar). 5. With the clothing item selected, you and a partner will design and create that article of clothing for the life-size cardboard cutout….but, it MUST market at least 5 different brands in a creative way. 6. This cutout will be featured in my class for years to come, so in order to receive credit for this activity, EFFORT and CREATIVITY are both a MUST!!! 7. Have fun