One you have a trademark you may be tempted to get into trademark licensing. Why not? You have heard that it can be a lucrative opportunity for your trademarks. Before venturing into this area of trademarks, make sure you are fully aware of any potential pitfalls. You have to make sure you do not engage in naked licensing. Naked licensing occurs when a third party is granted unrestricted use of your trademark. This will cause it to lose its connection to the source identity and you will lose your trademark because of abandonment. This is a major pitfall that you can avoid by being aware and responsible with your trademarks. If you are going to authorize a third party to use your trademark is licensed, and that all of the licensing agreements be written carefully. Finally, make sure to sign and enforce them. This agreement must set the standards regarding the third party's use of your trademark, and the quality of products or services with which your trademark will be used.