What is Data Licensing?

       In the age of technology and an environment driven by content, companies are quick to accept and value data as a key aspect of business. This also leads every company to treat data as an asset which needs to be protected and if not licensed properly, they can end up being exploited by third parties. So, it becomes necessary for all organizations to indulge in protection and treatment of data and related IP rights. In this article we will understand how a data feed or a data base is licensed, and how data transactions can be focused on. Ranging from technology service arrangements, to commercial transactions data licensing is a key part of business processes in 2023.

       But before we go any further, what exactly is data licensing? In simple terms, it just means protection of data by one or more IP rights. It encompasses, the manner of delivery, data security guidelines, and of course the critical aspect of maintenance and control of data. Data licensing addresses permitted data usage and ownership of data by the licensee and licensor respectively.

Processes covering Data Licensing

       Proprietary Data and Information: The process of identifying proprietary data is the foremost step in ascertaining data licensing. It is essential to understand, if the data includes personal information that discloses business transactions, market positions or trade secrets with respect to any company or individual.

      Understanding IP Related Data: Intellectual property rights (IPR) management is an important part of any data management program. Critical process of Data licensing, covers understanding as a builder of a database or a data resource, we need to know who owns the data and how others may use it.

      Importance Of Data Ownership: In relevance to the above IP management point, it is key to figure out ownership, and control over access to data. Data in itself has an intrinsic value and should be addressed with ethical, institutional, legal and professional dimensions.

      Right to Data Usage: Understanding the right to data portability is vital in data licensing. This is important as several companies and services are inclined to reuse the same data.

Data Licensing Methodology

      Data can be protected by one or more IP and any usage of data might require a license from the primary owner or a sublicense from a third party who has licensed the data from the primary owner.

Treatment of Original Data

      All parties involved should consider treatment of both original and subsequent data at all times. The licensee should consider the opportunity of modification of the original data

Data ownership and use

      How does one receive, collect and compile third party data, and how can one generate information based on such a collection and compilation. It is essential that the user of data considers analyzing the consumer data to provide services to his customers, maintain confidentiality, curtail use of data other than consumer benefit.

Essential Benefits of Data Licensing

  Data licensing gives you a secured data and access to updates

 Faster approach to reliable data and protected data

  Coverage of data management and risk, with controlled cost effectiveness

  If you are an email marketer, licensed data can help you in building customized email lists

 Licensed data, is much cleaner and accurate compared to random databases

What’s the Data Licensing advantage?

      Data licensing helps licensors who cater to consumers and businesses with B2C and B2B insights and relevant data sets. Data licensing helps companies cover a range of services, such as marketing, research, demographic mapping, analytics, verification etc.

      The whole process gives you an understanding of how to keep data safe and updated and this gives you the advantage of utilizing it for purposes which can serve your business interests at all times. Data licensing helps you in managing data integrity.

      If you are looking for data licensing services in India or elsewhere, please get in touch with our experts now.