Once a licensing contract is signed, the next great paperwork challenge commences – licensing product approvals.
The signing of the contract marks the beginning of a relationship. It is important for the licensee to get familiar with the licensor and the licensing program as much as possible. It is the licensor’s responsibility to make sure they provide the licensee with all the information they need.
From conceptualization to product development to packaging to marketing, everything needs to be reviewed and approved by the licensor. This process can be cumbersome, but there are ways to make the process run more efficiently.
Generally, the licensor delivers a brand licensing style guide to the licensee at the orientation. The style guide helps direct the licensee on how to use the brand logo and style elements when creating products, packaging and marketing collateral.
Start with a system
Licensing product approvals usually have a lot of people reviewing different stages throughout the development. For one product you could have brand manager, creative, marketing, digital production teams review a single submission. With a submission passing through that many hands, it’s best managed with a fine-tuned, well-organized licensing product approval system.
Submission forms are a simple way to provide key information for all parties involved. Licensing product development software can provide a centralized location for all parties to access to all submissions while giving the ability to create customized forms that are tailored to the contract terms.
And automated workflows can help track the full development life cycle for faster approvals and precise reporting, enhancing your workflow at every turn.
Define the stages
Different products will have different stages of development. While all products start with a “Concept,” depending on the license the development stages can vary widely.
Some may be as simple as using a logo on a product. Others may have dozens of stages that include scripts, storyboards, 2D, digital, and audio assets.
No matter the product, clearly defining the stages and what is needed to gain approval to pass through each stage is key.
Save time and energy with an automated system where you can track everything from ideation to manufacturing, product launch and marketing in one secure platform with as many stages as you need.
Keep feedback flowing
Lag time in approvals can cause major setbacks in the product development process. As licensees submit for various approvals, a product approvals platform can enable quick feedback from licensors for fast and painless turnarounds.
It also allows you monitor pending submissions. Get clear insights from all licensees, revoke approvals when needed, and keep your workflow moving with actionable data in your back pocket.
Having a licensing product approvals system that captures real-time data can speed up the process.
Brand managers and licensees can add updates whenever they’re ready and everyone gets informed about the update at the same time. Product approval solution reduces delays across time zones and workdays no matter where anyone is in the world.
It can be tough to track each product from each licensee to ensure they are complying with their contractual obligations.
A product approvals platform ensures all submissions, product samples are properly tracked and confirmed to be in line with contractual terms.
Make sure to capture everyone’s comments, actions, and images at each stage of the approval process.
As much as it’s important to include the related parties’ comments, realistically, it is challenging to trace back every comment for every submission from multiple people involved with long email threads.
This is where a brand licensing approval solution helps you follow the trail of everything along the way as well as allow others to join in at any point and have a full rundown of where an approval is along the process.
A single platform can ensure you have all this information stored at the SKU level for a full history of the entire approval process.
With a well-defined licensing approval system, you can eliminate snags in product development, remove roadblocks, and avoid hassles as you take a product submission from “Concept” to “Final Approval.” And that’s a licensing approval process anyone can approve of.
Learn more about Dependable Solutions’ licensing product approval software that makes the creative process move smoothly, and give actionable data to licensors and licensees.
Get faster licensed product approvals and faster reach to store shelves using one easy and secure tool. It is the tool to help make good licensees great.