Brands, intellectual property and franchises

Overview

Intellectual property, in the media industries, media brand and fair dealing.

What you need to know

Answer each one before you reveal it.

Questions from this subtopic

Each one with the model answer underneath.

1. 1

   What is intellectual property, in the media industries?

   Model answer

   The ownership of a creative work and of the characters, worlds and formats within it, which is what a media company's value largely consists of.

2. 2

   Why is intellectual property described as the real asset of a media company?

   Model answer

   A finished product earns once, while ownership of the world and characters earns from every future product, adaptation and licence.

3. 3

   What is a franchise?

   Model answer

   A set of products sharing a world, characters and brand, released across forms and over years.

4. 4

   Why do studios and publishers favour franchises?

   Model answer

   The audience is already established, so the marketing cost per product falls and the financial risk is much reduced.

5. 5

   Give one criticism of franchise-led production.

   Model answer

   Investment concentrates on continuing what exists, so original work is harder to finance and the range on offer narrows.

6. 6

   What is licensing?

   Model answer

   Granting another company the right to use a property — for merchandise, a game, a format or a territory — in return for a fee or a share.

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