Although licensing arrangements often varied many involved a foundation in which the license toy company paid the licensor a large advance of money. This advance guranteed the licensor a large profit regardless of the license successfully selling its product, however, the licensee would often also be required to pay the licensor a percentage of the net sales for a licensed product,called a royalty. Licensing agreements also specified numerous details including the amount of time a licensee could produce a product, the type of products to be created and in which countries the products could be sold. The acquisition of Marvel by Disney represented a significant move, as it placed a large amount of entertrainment licensing under the control of one organization.