Advantages of licensing include brand recognition, trademark protection and enhanced credibility. Licensing helps a business to increase its market share through enhanced awareness. It promotes the business’s position in the market. Licensing also generates revenues for the government.Continue Reading
A license is a legal contract permitting a company or individual to conduct one or more businesses within specific parameters. Licensing is an important practice to all stakeholders including manufacturers, retailers, consumers and the license issuing authority.
A license is fundamental to business as it provides a company with competitive advantage. Following a widespread influx of generic and counterfeit products, consumers are comfortable dealing with licensed brands. Licensing builds and enhances the brand image to a larger market and acts as a form of advertisement that aids in creating the brand’s awareness in the market.
Licensed manufacturers provide some level of assurance that consumers obtain authorized and not illegal products. Manufacturers also benefit from the licensing authority’s promotional and advertising programs to support the trademark. This helps to generate more revenues for manufacturers and retailers through the sale of authorized products to a wider market.
Despite the numerous benefits, licensing has some disadvantages. One major shortcoming of licensing is that it increases competition by creating a level playing ground. Licensing also exposes manufacturer’s confidentiality, propriety and production process.Learn more about Business Resources
Advantages of life insurance include financial protection in the event of an accident or unfortunate event, while disadvantages include undergoing the time-consuming and tedious process of searching for and selecting a plan, and sacrificing money for coverage. Life insurance classifies as a term insurance, meaning that it has a finite period of coverage. Like other types of insurance, consumers search for policies and plans in several categories, including basic-level coverage, mid-level coverage, and high-level coverage, which typically requires the largest financial investment and offers the most comprehensive coverage.Full Answer >
Advantages of property insurance from The Hartford include extended replacement cost coverage, identity restoration services, a 24-hour claims hotline and special protection packages that can be added to the base policy, states the company. Two special protection packages are available, the Home Advantage and the Home Advantage Plus Package. Both packages offer identity fraud expense coverage, which reimburses members for out-of-pocket expenses.Full Answer >
Advantages of Therma-Tru doors include energy efficiency, which keeps homes cool in the summer and warm in the winter; designs that are crafted to look like wood, but do not warp or rot like wood, and do not rust or dent like steel; and a line of steel doors that offer added benefits of noise reduction and protection from fire. Therma-Tru also offers the option of energy-efficient French-style entry doors in both fiberglass and steel models.Full Answer >
Advantages of traveler's checks include protection against theft or loss and access to money all over the world, including areas where there are few ATM machines. Disadvantages of traveler's checks include poor exchange rates, service fees and lack of convenience, according to a University of Albany exchange program fact sheet.Full Answer >