Data licensing is the protection of the data by one or more IP rights. It addresses the manner of delivery, data security policies, as well as maintenance and control over the data. The crucial negotiated point is the licensee’s permitted use of the data and the licensor’s ownership of the data.
The Data Licensing Process Includes:
- Identifying the proprietary data
- Determining if the data is protected by IP
- Addressing the ownership of the data
- Each party’s right to usage of the data
Protection And Licensing Of Data Depends On:
- The manner of aggregation
- The kind of data collected and the crucial reason for its collection
- Data licensing involve data agreement where the vendor licenses on the subscription basis, such as:
- Market data
- Search engine or website usage
- Technical, financial or the research data
- Map data
- Business and consumer records
Important Factors For Considering Data Usage:
- The licensee and the licensor should be carefully considering the business and legal considerations regarding the usage of data.
- The licensor should consider the rights to be granted consistent with the business model.
- It requires the vendor to promise that they will not use customer data for any other purpose.
Crucial Approaches For Data Licensing:
- The treatment of the original data
- Data ownership and the use
- Refers to having control and possession of the information
- The information includes the ability to modify, derive, access, create, remove, benefit from the data
The Importance Of Data Ownership
- The owner has the complete right over the data and can take legal action if the ownership is breached by any of the internal or external entities.
- Ownership helps in managing data integrity
- Helps in verifying the performance of the ad with marketing analytics
- In a data freed agreement where licensee is not permitted for generating any derived data, data licensing ensure:
- Licensed data within the scope
- Licensor rights for obtaining additional fees for additional data usage
Benefits Of Licensing The Data
- Regular updates giving you access for new possibilities
- Accurate and reliable data for the analysis and planning purpose
- Verified data from the sources which help to save the expense
- Decrease in cost from data acquisitions and market analysis
- Secure access
- Data attributes adding more insight
- Round the clock customer service
- Flexibility in the database management
How Is Data Licensing Helping Email Advertisers?
- Data licensing helps in the customized mailing lists
- It helps in the data enhancement
- The licensing service can help the marketers to facilitate email blast
- It helps in the data cleansing
- It also helps marketers with a strong market research process for backing the data