Do you understand the different ways licensing has the potential to add value to your business? You can create additional revenue streams by licensing "out" the intellectual property you invent and develop. (This is typically what's known as product licensing.) To help you accelerate the growth of your brand, entrepreneurs should consider licensing "in" others' intellectual property. This is what's known as brand licensing, and the opportunity it poses is massive. In 2018, the global retail sales of licensed merchandise topped $280 billion.