The International Licensing Industry Merchandisers’ Association (LIMA) is opening its first Canadian office in Toronto, the organization announced.

A recent global study from LIMA – which aims to create greater international awareness of the benefits of licensing to businesses – found that Canada has the world’s fifth largest market for trademark licensing.

As a result, LIMA president Charles Riotto said the company has identified Canada as a market with significant expansion potential.

“When you look at the size of the country and the maturity of the licencing market, I think there’s a lot of opportunities, both in the entertainment segment, as well as some of the other major licencing categories like corporate brands, publishing, sports and fashion,” Riotto told Playback Daily.

“There are still a lot of companies out there that have IP, which has a lot of value in it, but is not being utilized to its maximum capacity now,” said Riotto, adding that this was as true for film and TV as any sector.

“One of our goals will be to create a more structured licensing community around Canada, so people will have access to those in other segments of the industry that might be potential business partners,” said Riotto.

LIMA is widely considered to be the largest licensing and merchandising body in the world, with offices in more than 10 countries, including Australia, China, Germany, the U.K., India and its headquarters in the U.S.

LIMA has hired Andrew Menceles, CEO of Toronto-based brand licensing firm JAM Brands, as director of the company’s Canadian branch, and the organization will mark its Canadian launch with an event on May 3, featuring discussions and Q&A sessions with experts in the field.

Menceles is quick to point out that while Canada does have a “vibrant” licensing market, the potential growth in the market is large due to the relative lack of awareness of Canadian companies to the possibilities surrounding licensing.

Menceles told Playback Daily that representatives from many of the Canadian industry’s players will be in attendance at the event, including those from Disney, DreamWorks, Corus Entertainment, the National Film Board (NFB), Mattel and Warner Bros Entertainment Canada.

In the case of the NFB, the organization is exploring licensing and merch opportunities around its archive, which contains films, pictures, graphics and books amassed over more than 70 years.

The NFB’s head of business affairs, distribution, communications and marketing, Mary Graziano, has also been named to LIMA Canada’s board of advisors. Others included on the board are Pete Noonan, managing director of licensing at The Walt Disney Company Canada, and Lily K. Yan, director of brands at Nelvana Enterprises.

LIMA Canada’s launch event takes place 6 to 9 p.m. on May 3 at the Westin Prince Hotel in Toronto.