How do disney license its toy products?

Disney holds the rights to a vast array of characters and stories, and it grants licenses to external companies that design, manufacture, and market toys based on those properties. The licensing agreements typically cover the use of trademarks, character designs, and brand imagery, and they include terms about quality control, distribution, and royalty payments. Disney retains oversight to ensure brand consistency and protects its intellectual property, but the detailed contractual arrangements, approval workflows, and financial arrangements are kept confidential by the company.