Say a company wants to buy the licensing for a certain baseball team, how does that work?
In: Economics
Patents have a limited time of exclusivity before they go to public use – I think it’s three years.
Copyright is 70 years I believe. That’s why really old books, music and movies are in the public domain – the original owner has no ownership rights over that content anymore, its now owned by the public domain.
Trademark is an entity of a business, ie, a logo or motto, which is their intellectual property, and the principle is you can’t make money off using their trademark material without agreeing on royalties etc.
Then there’s licensing, which is a business allowing you to use their product name or whatever, for a price.
They just have to contact the entity that owns the Trademark (in the example, it’s MLB) and negotiate a licensing deal. The cost will depend on the specifics.
If it’s a merch-maker they’ll probably agree to taking a percentage of the profits generated by the merchandise.
If it’s a film or tv show, they may not demand any payment at all since it can be seen as free advertising.
It just depends on what exactly it’s for.
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