If you need help dealing with your bank or other mortgage holders in this financial crisis, give us a call. All remotely and off-premises and electronically or email. Contact Us Call Licensing agreements are legal contracts between a licensee and licensor. The licensor is the owner of a brand, trademark, or patent.
The licensee also usually makes a financial agreement to make royalty payments for using the trademark, brands, or goods. One of the common uses for licensing agreements is commercializing technologies. These agreements are quite complex and therefore lengthy.
They consist of several complicated elements. These parameters apply to licensing agreements:. First, you should always consult a qualified attorney who understands the aspects of these agreements and business law when creating a licensing agreement because of their complexity. It is vital that you know the legal terminology and terms of the contract. The nature of the product sets the bargaining power between the two parties.
They can be further broken down into exclusivity and duration. Patents cover science and innovation. Patent licensing agreements are the documents through which a patent owner allows someone else to use their patent. In practice, patent owners choose to license their patents so that they can have it manufactured and distributed widely.
These are generally the most complex types of license agreements because of everything involved in obtaining and maintaining a patent. Trademarks are signifiers of commercial source, namely, brand names and logos or slogans. Trademark licensing agreements allow trademark owners to let others use their IP. Most often, trademark owners license their trademarks for commercial goods, like clothing, iPhone cases, or food products.
Copyright is the artwork of the IP world. Copyrights exist in, for example, works of visual art, like paintings, or movies, or songs.
Another form of protection is to base extensions on royalties. A licensor will expect the licensee to pay a set amount over time. If that happens, the licensee gets to renew the agreement. If it doesn't, the agreement automatically ends. With so many areas of negotiation for a licensing agreement, anything can cause problems. That's especially true if the attorney who writes the licensing agreement uses language that's too broad.
Still, four areas are the most likely causes of a licensing agreement dispute:. The main areas of concern are the same for licensor and licensee. With an agreement, both parties have an understanding of how to approach intellectual property. Without one, the parties face the danger of lost time and money plus the frustration of a failed business negotiation.
Think of the situation from the perspective of a clothing manufacturer. Brands like professional sports teams, music artists, and movies all add value to a shirt. Trademark License A trademark license focuses on control over the type and quality of the licensed products or services. Trade Secrets Trade secrets cover a diverse range of IP including formulas, know-how, software, business systems, manufacturing processes, and all types of data such as information about suppliers, competitors, and customers.
Copyright Owners Guide to Licensing. We respect your privacy. Author Details. Rand Brenner Author. Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies.
His decades of experience run the gamut from medical devices to food technology to consumer products. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges, and startup events. Leave a Reply Cancel reply Your email address will not be published. Trademark Owners Guide to Licensing. Learn how to use licensing to make money with your trademark or brand. Patent Owners Guide to Licensing.
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