IP & Licensing Agreements
Intellectual Property (IP) refers to “creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.”
What are IP & Licensing Agreements?
Your IP can often be just as valuable – if not more so – than tangible property. It’s therefore vitally important that it is protected through patents, trademarks, copyrights, and other legal means.
Having protected your IP, it can then be licensed to allow others to use it, in return for a one-off or recurring fee or for some other benefit. IP and licensing agreements are often complex documents that govern the manner in which third parties can use your intellectual property and must ensure that the rights owner retains suitable protection of their property and can restrict or withdraw the licence if the rights are abused by the licence holder. These are especially important when you are entering into an IP or licensing agreement with others from foreign countries where the rights owner may not be familiar with the local laws relevant to the use of the rights and will want to ensure that the licence holder assumes full responsibility for compliance with these, and will want to ensure that a clear territorial restriction is placed on the licence holder to prevent them operating in other parts of the world that might be reserved for other licence holders.
IP and licensing agreements require careful thought and negotiation, to ensure that there are no loop holes or glaring omissions which allows your IP to be abused. It’s vitally important that you consult with a lawyer before entering into such an agreement.
How can we help?
We will work closely with you to write the agreements and we can then help you to negotiate them with your licensees.