When publishers set out to create a product, they normally do the research necessary to determine in advance the size and receptivity of their primary market to the product and plan on selling it through their usual channels of distribution. They also determine the minimum investment they will need to return a profit in an acceptable period of time. But unless they have had some international experience or have company-owned operations overseas, they may not have built into their business model incremental revenue from licensing deals in foreign markets. This is especially true for publishers with large domestic markets, like North America, where additional revenue from other markets may not have a significant impact on a product’s P&L, or at least not enough for the effort of creating a foreign-market version to appear on management’s radar. I know several successful mid-size U.S.- based companies that do not give a second thought to international markets and have yet to attend the Frankfurt Book Fair. However, whatever their main market, publishers should not overlook the potential value of product licensing. Almost every product’s earning potential should provide revenue from licensing, for no other reason than if the initial publishing plan falls short of forecast, licensing could end up filling the gap.