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.
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