I came across this link on the Mochi Ads forum over the weekend, and it gives a good, clear explanation of what it means to sponsor or license a game, the advantages and disadvantages of doing so, and tips on how to go about it.

Licensing/sponsorship is a topic that comes up regularly on here, so I hope this might be a useful resource for some members.

See here: http://www.flashgamesponsorship.com/

Cheers
Rich