Fictitious meeting between two potential licensing partners; Adidas is the licensor,
You are part of a fictitious meeting between two potential licensing partners; Adidas is the licensor, and Timex is the licensee. They are meeting for the first time. Select either Adidas or Timex and take their “licensing perspective” (i.e. licensor or licensee)
Develop a list of 10 due diligence questions you would ask the other company executives in the meeting to better understand them. For example, if you are Timex (the licensee) and seek to use the Adidas brand for a new line of athletic performance watches, you will want to ask Adidas executives several questions (hence performing due diligence).
Give a brief explanation of why your questions are important relative to your chosen company’s licensing perspective. Post your list of questions and associated explanation the following with references:
- What are your brand values? This is important to understand as a licensee, as you want to make sure that your brand is aligned with the licensor’s brand values.
- What is your target audience for athletic performance watches? This will help me to understand who I am marketing to and how I can best reach them.
- What are your marketing plans for athletic performance watches? This will give me an idea of how Adidas plans to promote their watches and how I can leverage their marketing efforts.