Coauthored by two industry pioneers with more than 60 years of combined experience, this breakthrough volume of the Basics of Licensing series offers both the novice and veteran alike proven, practical insights on how to maximize their position in the world of licensing. From the fundamentals of securing intellectual property rights to the finer points of contract negotiation, product development, marketing strategy, and more, no repertoire is complete without this immensely valuable resource. Also included, in addition to the core commentary provided in every chapter, is a set of appendices featuring useful administrative templates and licensing form agreements derived from actual transactions. The helpful advice and professional insights conveyed here are enhanced by practical definitions of licensing terminology, a detailed history of the licensing industry, and analysis of contractual terms and their implications.