The power of community

Word of mouth is an interesting phenomenon. Although the internet is a close second, there's no substitute for a friend's recommendation that a certain school offers excellent tuition or any other supplier for that matter. Similarly, the brand licensing industry depends on word of mouth to underwrite the reputation of licensees and licensors.

Once a licensee has a bad name - for not paying royalties, for example - word spreads quickly from the licensor via agents through to the agent's contacts. Obviously licensing newbies don't know who to ask for a referral but once you're in the know you become a stakeholder in the reputation network and, as long as your own reputation stands up, your opinion can make or break a deal. Such is the responsibility of being a brand licensing consultant...