What is the purpose of licensing and licensing agreements?

The primary purpose of the IP licensing agreement is to grant or obtain legally protectable intellectual property rights for a specific amount of time for a fee or royalty.

Licensing Creates Partnerships
A good licensing partnership gives the inventor or IP owner “licensor” a greater market or leverage otherwise unavailable, or both. The “licensee” gains IP rights that it can commercialize to the benefit of both parties—and in many cases to the benefit of society at large.

Types of agreements

A well-written licensing agreement protects the inventor or creator and the licensee. Each agreement is unique, however, it may contain more than one type of intellectual property, e.g., patents, trademarks, copyrights, and trade secrets. Additionally, there are several types of intellectual property licenses, but many can be categorized as exclusive (limited to one licensee, possibly including all of the rights of the licensor); non-exclusive (many licensees, often operating under similar terms); or personal (limited to a single person or business, often with few further rights).

The experienced attorneys at Summa, PLLC are here to help you navigate and understand the various nuances of giving or taking an IP license.

Our attorneys have a wide variety of experience with IP licensing matters including:
  • License Agreements
  • Due diligence
  • Joint inventorship
  • IP assignments and ownership disputes
  • Royalty obligations
  • Non-Disclosure Agreements (NDAs)
  • Contract Review

Intellectual Property.It’s yours, your competitor’s, or everybody else’s. Summa PLLC protects yours.

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