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hi my name is stu seltzer and im going to give you an overview about trademark licensing and how it can help grow your business first lets talk about what is trademark licensing have a look at some of these popular licensed products yankee t-shirt a batman action figure a mrs fields klondike ice cream sandwich bar and a calvin klein underwear yes these are all licensed products licensed products involves two parties you have the brand owner which we call the licensor and you have a manufacturer which is a licensee and the licensee and licensure get together they share the risk they share the control and of course theyre all in it to share the rewards the licensee pays the license store a fee to use that brand and that fee is called a royalty and typically the royalty is based on a royalty rate and in future videos well get into that but why does licensing work or how does it work well have a look at this marketing 101 pyramid and this marketing pyramid just defines what all market