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Character licensing is a $370 billion global industry — and most people have never heard of it. Bruce Berman sits down with David Born, CEO of Born Licensing and one of the world's leading experts in character and IP licensing for advertising. From placing Buddy the Elf in a UK supermarket ad to helping Geico license Angry Birds, David breaks down how brands use intellectual property to create instant emotional recognition in marketing campaigns. He explains how licensing deals are structured and valued, how licensors protect their brands from overexposure, and why smaller or emerging characters can actually offer better ROI than the hottest properties. David also shares how he built Born Licensing into one of the fastest-growing companies in Europe without any formal legal training — and why he thinks licensing is the most underrated business skill in the world.

KEY TAKEAWAYS

• Character licensing is a $370 billion global industry that most consumers interact with daily without realizing it.
• Brands license IP in advertising through multiple methods — placing characters in ads, using existing footage, recreating iconic scenes, or rotoscoping characters from original films.
• Licensing fees are determined by scope: territory, term, media channels, and usage type all factor into the final value of a deal.
• Top-tier licensors like Disney and Marvel are extremely selective about who they work with — protecting brand equity is a higher priority than volume of deals.
• Lesser-known or dormant characters can offer better commercial terms and faster approval processes, making them attractive for companies new to licensing.
• David Born built Born Licensing into an FT 1000 fastest-growing European company by filling a gap no one else was serving: helping ad agencies navigate IP licensing.
• Consumers will pay more for licensed products — the brand association adds perceived premium value that can offset royalty costs.
• AI presents both opportunities and challenges for the licensing world, with major licensors still uncertain about how to embrace it without compromising IP protection.
• Without formal legal training, David relies on deep industry experience, strong licensor relationships, and his lawyer sister for more complex legal questions.
• The best measure of a successful licensing campaign is authentic fan response — when fans love seeing their character used well, it's a win for everyone.

Learn more about CIPU: understandingip.org 
Born Licensing: bornlicensing.com 
Born to License Podcast: Search "Born to License" on your podcast app

Understanding IP Matters is produced by the Center for Intellectual Property Understanding (CIPU). Subscribe on your platform of choice or visit understandingip.org.

00:00 - Introduction & guest welcome 
02:13 - How character licensing entered David's life 
04:33 - Who listens to Understanding IP Matters 
05:15 - Types of IP licensing in advertising 
07:05 - How licensing deals are valued 
08:35 - Geico x Angry Birds case study 
09:08 - Measuring campaign success 
11:07 - Born Licensing's two business divisions 
12:39 - Major vs. lesser-known characters 
15:22 - Brand equity and saying no to deals 
17:29 - Operating without a legal background 
19:15 - Compensation and equity structures 
20:11 - FT 1000 fastest-growing company recognition 
21:39 - Filtering opportunities for licensors 
22:59 - Born to License podcast 
24:44 - Lessons for tech and content licensing 
25:29 - The cost and value of licensing 
27:40 - AI and the future of character licensing 
31:31 - Content authenticity and IP tracking 
32:32 - David's first awareness of IP
33:50 - Final thoughts for listeners

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Understanding IP Matters is brought to you by the nonprofit Center for Intellectual Property Understanding (CIPU) with generous support from its partners and sponsors. The podcast provides leading innovators and experts the space to share their IP stories.

Subscribe on your platform of choice or visit understandingip.org.
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