GTO 3987 on Mulholland

GTO 3987 on Mulholland

Friday, June 5, 2009

Licensing and the business executive

Why should a business executive be concerned with licensing? The best answer is that it increases the yield from his or her personal brand. It extends the life and reach of the brand without requiring extra hours of work on the executive's part. Finally, it can create earnings that relieve the executive from the need to engage in work-for-hire contracts by which he or she is cast in the role of an employee. In a time when jobs are disappearing faster than the polar icecap, it is worth taking note of how licensing can apply to an executive.

If one were to think of an upper-level executive as an intellect, it can be quickly understood that there are many ways to monetize--merchandise--that intellect. Showing up to put in hours each day at someone else's corporation is but one of these. It is probably the least rewarding and remunerative, as well.

In the mid-80s, Mark McCormack of IMG turned his attention to the licensing of athletes thus forever changing the financial dynamics of the sports world. Until I pushed into the business world as a function of my Business on-demand project, I don't know that anyone else was applying this protocol to executives--a curious oversight, in my view.

I think a great many executives will become interested in the subject as the imperative 'Get a job' is supplanted by 'Assure the future'.

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