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SEM 1.06 Vocab
| Term | Definition |
|---|---|
| Copyright | Legal protection of original works and intellectual properties granted by the government to give their creators sole rights to them |
| Naming Rights | A financial transaction and form of advertising whereby a corporation or other entity purchases the right to name a facility or event, typically for a defined period of time |
| Endorsement | A form of testimonial from someone that indicates that they like or approve of a porduct |
| Guarantee | The fee a licensee pays up front in order to use trademarked propertiey |
| Licensor | An organization or company that hold the rights to trademarked property |
| Logo | The name and/or symbol used by a business(Signature) |
| Royalties | A percentage of actual sales that a licensee pays to a licensor, usually anywhere from 5-15% |
| Slogan | A phrase that is easy to remember and represents a company or a product |
| Sponsorship | An agreement that allows a company to pay a fee to a team or an event for the right to affiliate itself with that team or event |
| Trademark | A symbol, design, or word used to identify a good or service and registered with the government to prevent use by others. |
| Brand Awareness | Extent to which a brand is recognized by potential customers, and is correctly associated with a particular product. Expressed usually using a percentage of target market. |
| Brand Image | The consumers' beliefs about the company and/or its goods or services often in terms of quality, price, and value. |
| Brand Equity | The perception of added value a product has as a result of its brand name |
| Brand Loyalty | The extent of the faithfulness of consumers to a particular brand. |
| Licensing | Permission to copy the names, logo, of a league, athlete, sports team, entertainer, film, tv show, or character for a fee, also called a royalty. |
| Licensee | A company who wants to manufacture and see products using trademarked property |
Created by:
mtoms1951
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