INFOCLUTCH | October 15, 2019
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.
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
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:
Search engine or website usage
Technical, financial or the research data
Business and consumer records
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.
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 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
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
Data attributes adding more insight
Round the clock customer service
Flexibility in the database management
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