For Subscribers

Product Licensing Basics

What does it take to transform your product from a mediocre seller to a megahit? The answer could be as simple as inking a licensing deal.

By Karen E. Spaeder

Opinions expressed by Entrepreneur contributors are their own.

Without the name of a popular baseball team on it, Bob Diee's baseball cap-shaped computer mouse might have done little more than collect dust in the back of his garage. Fortunately for Diee and his partner, Glenn Luthy, they had a hunch that a computer mouse would sell much better if it had the name of a favorite sports team on it.

For Diee and Luthy, obtaining licenses from both the minor and major leagues, as well as from university baseball teams, has proved to be the key to their product's success--and they expect those licensing agreements to help them achieve $1.5 million in sales for 2007, only their second year selling the device.

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game
Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.

Starting a Business

Shopify's President Breaks Down the Best Ways to Grow Your Ecommerce Business

Entrepreneur magazine Editor in Chief Jason Feifer and Shopify President Harley Finkelstein discuss the best strategies to grow an ecommerce business.

Franchise

Everything You Need to Know About Franchise Law

Franchising is a legal agreement between a franchisor and a franchisee — and with that comes a set of regulations you must follow.

Career

The Top 2% Swear By This Negotiation Tactic Most People Overlook

One of the most powerful negotiating skills you can possess is seeing the situation from the other person's point of view and then separating the positions from the problems.