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How Product Licensing Works
Premium Internet Marketing Courses
with Resell Rights |
You Can Make Your Living Online
By David Vallieres
Full Master Resell Rights
Instant Online Access and CD version
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Product licensing has existed for a long time, but only in the past decade or so
has it applied to products sold only on the internet. It's completely
understandable that many internet marketers do not have a solid idea of how
product licensing works. It's somewhat of a legal thing, which scares off people
who dread legal jargon. But don't let the legal jargon fool you, product
licensing is a very easy process to understand. Let's go over it here so that
you'll know what it means to you—whether you're a product license buyer or
seller.
What is Product Licensing?
Product licensing is the process of giving a buyer the right to sell your
product without being in violation of copyright and other laws. You're giving
them the legal right to sell your product.
The Steps of Product Licensing
Before a person licenses their product to a customer, they must first go through
a process of licensing the product. During this process, they'll do research and
decide on what kind of rights they'll be giving the customer as far as the sale
of the product is concerned.
1. Researching the Field. People who are new to the idea of licensing their
products often get fleeced if they determine licensing terms without researching
it. For this part of the process, many internet marketers will consult a lawyer
to make sure that things go as planned. They'll also do some research—perhaps at
the library or on the internet—to gain more knowledge about licensing their
specific product.
2. Drawing up the Terms. After adequately researching things, the person
licensing the product can begin to draw up all the terms of the license. They
can decide on what rights the buyer will get when they agree to the license.
These rights may include:
- Resell Rights - The right to resell the product and keep all the profits. No royalties are
due.
- Master Resell Rights - The right to resell the product with resell rights. In other words, the buyer
can turn around and sell the product to someone else and allow them to, in turn,
resell it.
- Private Label Rights - The right to edit the product and then sell it. This doesn't typically occur
in product licensing, but sometimes does. Basically, in this case, the buyer can
purchase the product and may edit it before selling it. T
3. Writing the Final Agreement. The final contract a.k.a. the official licensing
agreement, is now drawn up. This document will define exactly what both sides
are entitled to and what they are not. It is legally binding once signed, and
neither side can be in violation of the terms without opening themselves up to
lawsuits and other legal problems.
4. Signing the Agreement. Since things are done via the internet, you probably
won't get a physical signature from the buyer. Instead, you'll have them check a
box when purchasing the product that says they agree to the terms of licensing.
That's the agreement and you can hold the buyer to it.
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