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Licensing

Commercial data license

A commercial licence comes in two kinds. An internal use licence covers our data being used inside your organisation, by your colleagues. A redistribution licence covers it being shown to your customers — in your product, your research or your publication. This page sets out what each one covers before you have to ask.

18M+ SEC filings, from 1993
20,000+ KPI & operating metrics
20 yrs+ Standardised fundamentals
API · Bulk · WS Delivery routes
Start a licence enquiry
The line

One question decides it: who sees the number?

Most licensing pages open with definitions. This one opens with the test, because in practice it settles almost every case. If a figure of ours stays inside your organisation, it is internal use — a subscription covers one person, an internal use licence covers a team. If it reaches someone outside, a client or a user of your product, that is redistribution and it needs the second kind of licence.

Internal use — no redistribution licence
  • Screening, charting and statement analysis for your own work
  • Internal dashboards and tools built on the API
  • Investment committee memos and internal research notes
  • Backtests, models and exports that stay in-house
  • Any number of colleagues at your organisation, on their own seats
Needs a redistribution licence
  • Client reports, factsheets, pitch books and portfolio reviews
  • Paid newsletters, subscription research and media publication
  • Data displayed inside an app, terminal or dashboard you sell
  • An API of your own that serves our data downstream
  • Anything your customers or subscribers can see

Not sure which side a specific use falls on? Describe it in the form at the bottom of this page. An answer is usually a sentence, and we would much rather give it before you build than after.

The two kinds

Internal use, and redistribution

Every commercial arrangement we sign is one of these two, or both together. A research firm whose analysts use the platform internally AND publishes client notes needs both, and that is one agreement and one conversation rather than two.

Kind one

Internal use licence

Our data used inside your organisation, by the people who work there.

Typically: Investment firms, research teams, corporate strategy and finance functions, family offices.

  • Screening, charting and statement analysis by anyone on your team
  • Internal dashboards and tools built on the API or on bulk deliveries
  • Investment committee memos, internal research notes and models
  • Backtests and exports that stay inside the organisation
  • Seats for as many colleagues as you need, billed as one account

A single-seat version of this is what a Pro or Max subscription already grants. The licence exists for teams: multi-seat access, invoicing, and terms your procurement can sign.

Kind two

Redistribution licence

Our data shown to YOUR customers — in your product, your research, or your publication.

Typically: Fintech products, brokerages, media and newsletter publishers, advisory firms, terminals and analytics platforms.

  • Data displayed inside an app, terminal or dashboard you sell
  • Client reports, factsheets, pitch books and portfolio reviews
  • Paid newsletters, subscription research and media publication
  • An API of your own serving our data downstream to your users
  • White-label deployments and embedded widgets

This is the entitlement the pricing table marks as commercial redistribution on the Enterprise plan. Attribution to Business Quant is required on any surface where a figure of ours is shown.

Bulk delivery, multi-seat access and academic pricing are options ON either kind rather than licences of their own — how the data reaches you and how many people use it are terms inside the agreement, not separate agreements.

Coverage

What you can license

Every dataset below is one the platform and the API already serve. You can license one of them, several, or the lot — and the delivery route is chosen per dataset, so a live quote feed and a nightly fundamentals drop can sit in the same agreement.

Dataset What it is Delivery
Financial statements Income statement, balance sheet and cash flow, standardised across 20+ years of filings. API · Bulk
Segment financials Reported operating segments and their revenue, profit and asset lines, back a decade or more. API · Bulk
KPI and operating data 20,000+ non-GAAP and operating metrics — deliveries, store counts, churn, subscriber numbers, ARPU. API · Bulk
Analyst estimates Consensus, high and low estimates against reported figures, quarterly and annual. API · Bulk
SEC filings archive 18 million+ filings from 1993 onward, with indexes, exhibits and attachments. API · Bulk
Filing item extraction Individual items parsed out of 10-K, 10-Q, 20-F and 8-K documents as structured text. API · Bulk
Full-text search Query the filing corpus by phrase across forms, companies and date ranges. API
Institutional ownership 13F holdings and N-PORT company holdings, filer by filer and period by period. API · Bulk
Insider transactions Form 3, 4 and 5 filings parsed into transactions, holders and roles. API · Bulk
Corporate actions Dividends, splits, IPOs, bankruptcies and delistings, parsed from the filings themselves. API · Bulk
Market quotes Real-time and historical prices for US-listed equities. API · WebSocket
Economic data Macroeconomic indicators and their full release history from official government and central bank sources. API · Bulk
Identifier mapping CIK ↔ CUSIP ↔ ticker, with historical changes rather than only today’s state. API · Bulk
BQ-MICS classification Our own multi-industry classification — primary and secondary sectors, groups and industries, with the reasoning behind each assignment. API · Bulk

Endpoint-level documentation for each of these lives in the API reference. Bulk deliveries carry the same fields as the endpoints they mirror, so nothing has to be re-modelled when you move from one to the other.

Provenance

Why this data is clean to license onward

The reason we can grant redistribution rights at all is that the great majority of what we publish is built from public regulatory filings and official statistical releases, parsed by us, rather than resold from another vendor. There is no third party in the chain whose terms would follow the data into your product.

Built from the primary source

Fundamentals, segments, ownership, insider transactions and corporate actions are parsed from SEC filings themselves. Economic series come from the issuing government agencies and central banks. Each dataset’s origin is listed on data sources.

Point-in-time, not survivorship-filtered

The filing archive runs from 1993 and includes companies that no longer exist. For backtesting and for model training that is the difference between a dataset that is usable and one that quietly flatters every result computed on it.

Our own classification layer

BQ-MICS assigns primary and secondary sectors and industries with the reasoning recorded alongside each assignment, so a company with two real businesses appears in both. It is ours to license, and it is documented at industry classification.

Process

From enquiry to signed licence

No sales sequence and no gated demo. Four steps, and the first three cost you nothing but the time it takes to describe what you are building.

Tell us the use, not the volume

What the data is for, who ends up seeing it, and which datasets you need. That is enough to say which of the two licences applies — and sometimes the answer is that your existing plan already covers it, which we will tell you.

A short scoping call

Thirty minutes with someone who knows the data rather than a sales script. Enough to pin down the datasets, the delivery route and the term.

Evaluation access

A time-boxed key against the real endpoints, or a sample bulk extract of the datasets in scope. Enough to prove the data does what you need before anyone signs anything.

Agreement and delivery

Scope, permitted surfaces, attribution, term and end-of-term handling written down explicitly. We are equally happy to work from your paper as from ours.

Questions

Licensing questions we get asked

Do I need a commercial licence to use Business Quant at work?

For a single person doing their own research, no — a Pro or Max subscription covers it. An internal use licence is what you want once a team needs access: it is the same entitlement, sized for an organisation, with multi-seat access, invoicing and terms your procurement department can sign. A redistribution licence is a different thing entirely, and is needed the moment our data is shown to someone outside your organisation.

Where exactly is the line between internal use and redistribution?

The question to ask is who sees the number. A model you build for your own investment committee is internal use, however many colleagues read it. The same number in a factsheet you email to clients, on a page in your app, or in an API response your own users call is redistribution, and needs the second kind of licence.

Can I display Business Quant data in my own product?

Yes, under a redistribution licence. That covers apps, dashboards, terminals, white-label deployments and downstream API access served from your own infrastructure. Attribution requirements and the permitted surfaces are set out in the agreement.

How is a commercial licence priced?

On what you are licensing rather than on call volume alone: which datasets, how much history, how it is delivered, how many people or end users see it, and the term. Redistribution is priced differently from internal use, because it is a different exposure. We quote after a short conversation rather than publishing a rate card that would not fit most of the cases we see.

Can we get the data as files instead of calling the API?

Yes. Bulk delivery ships full-history snapshots plus scheduled incrementals as Parquet or CSV, to object storage or an endpoint you nominate, with schema notes and change logs. It is usually the right shape when the data is going into your own warehouse rather than being queried live, and it is available under either kind of licence.

Is the underlying data free of third-party licensing restrictions?

The great majority of it is built from public regulatory filings and official government and central bank releases, which is precisely why it is clean to license onward. Where a dataset carries any restriction of its own we say so in the agreement rather than leaving you to discover it. Our sources are documented in full on the data sources page.

What happens to data I already hold if the licence ends?

That is set explicitly in the agreement rather than left to a default. Depending on the licence it will be a wind-down period, a perpetual right to the data delivered during the term, or deletion — and which of the three applies is agreed before you sign, not after you cancel.

Get in touch

Start a licence enquiry

The more specific you can be about what you are building and who will see the data, the more useful the first reply will be. Every message reaches the team directly.

Tell us about the use

Fields marked with an asterisk are required.