A licensing coordinator manages the licensing of a brand when it is given outside the company of origin.
He or she is a business negotiator who meets people outside the company when they want to use the brand for something.
For example, if a manufacturer wants manufacturing rights of action figures that come from a TV show, he will meet a licensing coordinator from the TV show, and they’ll hash out the whole agreement.
The agreement will include which characters will be made into action figures, what the quality will be, and for how long the manufacturer can continue to produce the toys. They will also decide what the price will be, and how much the manufacturer will take, and what will be the TV show’s cut.
A licensing coordinator also looks after the brand image, which means that for example, if the TV show is one in which no animals were harmed, the production of the action figures cannot have tested anything on animals. That is to say, the licensing coordinator makes sure that the brand’s values are not compromised.
To work as a licensing coordinator, a person needs to have a master’s degree in business administration or marketing.
In some places, people with a bachelor’s degree can be licensing coordinators too.
A licensing coordinator earns well. That is to say, from $50,000 to $70,000 per year. Of course, those with a master’s degree often earn even more.
Licensing Coordinator Duties and Responsibilities
• Work with managers to develop a long term licensing policy and strategy
• Follow recognized licensing processes to support product licensing in the company
• Monitor the licenses already given out, as well as the progress of the licensed products in the market
• Monitor best practices as well as official national and international regulations related to product licensing
• Write and submit quarterly reports on each licensing project
• Represent the company at conventions and other events
• Manage website updates by providing timely information to communications teams
• Monitor royalties and ascertain payment to the company
• Help build relationships with all licensees and troubleshoot problems before they become crises
• Make and manage budgets for each licensing venture
• Audit licensees’ products to ensure quality and compliance with company rules and values, and ensure that contract provisions are being honored
• Ensure that all licensees follow national and international regulations regarding manufacturing and other production
• Maintain a database of all licenses issued