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“Markets for brands” play an important economic role in today's global economy. Trademarks and brands can be purchased, franchised or licensed.The ability to use Markets for Brands allows companies to diversify their business, to access competences, and to generate new revenues. In recent years, firms in developed and emerging economies have been active users of these markets by licensing or acquiring established global brands. Yet, despite their apparent importance, little is known about the size of these markets. This article first defines and provides a taxonomy of different brand markets. Second, it analyzes the economic rationale of such markets. Finally, it provides evidence on their magnitude, also assessing their relative importance of the different brand-related transaction types in developed and emerging economies alike.
