Are you considering a position with a company that relies on licensing arrangements for some or all of their products? If so, it’s important to understand what you’re getting into before accepting a job offer. Failure to do so could result in professional frustration or an unexpected job loss.
Here are 3 crucial questions to ask…
How long does the company have the legal right to use the license(s)?
When a fashion company relies on licensed products, it means that they have obtained the rights to use someone else’s intellectual property, such as a popular cartoon character or a celebrity’s name or image, on their products. These licenses are usually granted for a specific period of time, such as one to five years. It’s important to understand the length of the license contract and when it renews, as this will impact the stability of the job and the company’s product offerings.
It is not uncommon for a company to let go entire teams or even divisions when they lost the rights to a particular license.
What sort of flexibility does the design team have with the license?
When working with licensed products, the design team may have less flexibility than they would with products that are solely designed in-house. The license holder may have strict guidelines or limitations on what can be done with their intellectual property, which can impact the creative direction of the designs. It’s important to ask questions during the interview process about how much creative control the design team has over the licensed products.
How much flexibility does the company have in the pricing of the product?
Another consideration is the flexibility in pricing of the licensed products. The license holder may have set pricing guidelines that the fashion company must follow, which can impact the company’s ability to offer competitive pricing. This can be a challenge for the sales team and may impact the company’s overall revenue.
In conclusion, it’s important for fashion industry job seekers to understand the impact of licensed products on the company’s operations and creative direction. Make sure to ask questions during the interview process about the length of the license contract, the design team’s flexibility, and the pricing guidelines. With this information, you can make an informed decision about whether a job with a company that relies on licensed products is right for you.
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