Creativity and innovation are fueled by today’s content-centric world. However organizations in almost every industry are facing content overload, struggling to figure out what they have, how they can use it and whether it’s profitable. Here are 5 justifications for moving rights data out of paper contracts, spreadsheets and metadata fields, and into a scalable rights clearance solution.
1. Protect your brand and avoid litigation. Using IP that you don’t have rights to can result in costly fines and sully your brand’s reputation. Just last year, a jury awarded Michael Jordan $8.9 million after the now-defunct Dominick’s supermarket used his identity without their permission. This cautionary tale is just one among many; the illegal use of IP is a gamble you don’t want to make.
2. Accelerate time to market. When you have visibility into all your available assets, a centralized view of your usage rights, and the ability to check rights real-time, in the cloud, without the need to consult with your legal department about contract terms or sift through complex variables in your DAM, MAM or CMS metadata fields, it speeds up the creative process. Innovative campaigns can be churned out faster, with fewer resources.
3. Share assets across the organization. Often times creative teams hold the keys to digital assets that other departments can make use of. Re-using IP you have already paid for while keeping imagery, content and other properties in line with your existing brand identity allows you to get the maximum value from your IP investment.
4. Scale as you grow. As digital assets proliferate and usage terms get more and more complex, storing them in the metadata fields of your DAM is time-consuming and error-prone. By automating asset rights clearance you will continue to have a clear view of what you own as both your digital asset library and your organization as a whole grow and expand.
5. Make smarter purchases with analytics. What are your most profitable assets? The ability to track IP clearance and usage data provides you with business intelligence around your IP use and monetization. Analytics informs smarter licensing/acquisition decisions for rights-managed assets, smarter license renewals, and better budget planning for art buying.
FADEL Rights Cloud provides all this and more, and seamlessly integrates with leading DAMs, MAMs, CMSs, and third-party rights management systems, or can be used as a standalone solution for asset and content management, contract and rights management, and distribution. Schedule a demo to find out how you can get the “rights” answer, on-demand.