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Hi, Im Pete Canalichio, and welcome to the brand licensing pre-launch. Youll recall in our fourth video, Hugh and I talked about getting ready for the draft. And when we talk about that, what were saying is, were looking at those prospective licensees out in the marketplace and which ones of those we want to actually bring on our team and how they are going to size up. So in our first video, as we talked about getting ready for the draft, we talked about how they complete the conservative business estimator, or the forecast. In the second part, Im going to talk a little bit about the deal terms that are common and what those definitions of those deal terms are. So lets first start off with an easy one: the term. And the term really is as simple as it means. Its when does the contract start? and when does the contract end?. And thats very important to know from a whole series of legalities, but its also important from an aspect of can that man
