LIMA’s Mission & Principles

LIMA’s Mission Statement

The mission of LIMA is to foster the growth and expansion of licensing. LIMA represents the interests of its membership worldwide by providing a forum for networking, serving as a source of education and information, establishing standards of ethical and professional conduct, and recognizing excellence and achievement in the industry.

LIMA works to achieve these goals by, among other activities:

  • Staging educational and social events that foster industry knowledge and exchange of business information and contacts;
  • Serving as public advocates for the business of licensing globally through public speeches, authoring articles and a wide range of other public relations activities;
  • Developing industry numbers and other support information;
  • Creating and publicizing an industry code of conduct;
  • Organizing and publicizing the LIMA Licensing Industry Excellence Awards, which annually recognize high achievement within the licensing community

LIMA’s Statement of Ethical Principles

LIMA supports and encourages its members to conduct themselves in an ethical manner in the course of their business dealings involving licensing properties and licensed products.

Laws and Regulations

A member of LIMA should respect the rights of others and should comply with all applicable local, national and international laws and regulations governing his or her business dealings.

Fair and Honest Representation

A member should make fair representation as to the nature, quality and extent of the property being offered for license or of the capabilities of the company seeking a license. Any statement not supported by fact should be identified as opinion. A member should not engage in any misleading advertising or solicitation that could lead to false or exaggerated expectations as to the member’s skills, experience or ability.

Full Disclosure

A member should not represent conflicting interests in the same transaction without the knowledge and consent of all parties involved.

Integrity and Confidentiality

A member should hold inviolate all confidences, whether written or implied.