MARKETING: Seat of Higher (L)earning

Seat of Higher (L)earning

Harvard University, whose business school has long been a training ground for some of the nation's top corporate minds, has decided that it will no longer give away its profitable name gratis. By January 1991, companies that produce everything from sweat shirts to chairs to coffee mugs emblazoned with the name Harvard, the university coat of arms or the motto VERITAS (truth) will have to pay for the privilege. Despite an endowment of some $4.5 billion, the oldest U.S. university can always find uses for an extra $500,000 a year, the amount that the trademark license could eventually produce.

Harvard tested...

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