MDL’s Maurizio Distefano on IP owners and licensees needing to hear each others needs and compromise.
The COVID-19 pandemic has affected every country across the globe.
LicensingSource.net has been catching up with a selection of licensors and licensing agents from Europe, the US and Russia to find out more about how their businesses have been affected and how they see the rest of 2020 playing out.
Today, we head to Italy to get the views of Maurizio Distefano, founder and president, Maurizio Distefano Licensing.
“Business has gone down substantially compared to Q1 and Q2 of last year due to the lockdown and retail closures. However, we have seen resilience from some licensees which has helped keep the business running. The main change is the lack of face to face meetings with licensees and prospects.
During the lockdown, we have been able to progress with and wrap up both new deals with licensees, as well as new IP representations expanding our IP offer to our customers. Retailers have all resumed business albeit with some measure in regards to social distancing, etc. Licensees have also resumed business and are eager to catch up with lost opportunities.
In terms of challenges it’s been something of a chicken and egg story. In general, retailers are delaying payments to their suppliers including licensees, hence licensees are delaying their payments to IP owners or agents. This cash flow issue is, in my opinion, one of the major threats in Italy as regards business in general and licensing in particular.
I think IP owners and licensees need to hear each others needs and compromise to allow business to continue until the general business situation has stabilised.”
This feature originally appeared in the summer 2020 edition of Licensing Source Book. To read the full publication, click on this link.
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