Licensing Agreements can be a great way to enhance your brand and increase sales, but they must be carefully drafted to protect and manage your intellectual property rights.
What is Licensing?
Licensing is the process of allowing a third party individual or entity to manufacture, distribute, sell, promote, or publicly display your Intellectual Property in exchange for a licensing fee. The owner of the Intellectual Property is called the “licensor” and the party being granted the license is called the “licensee.”
What is a Licensing Agreement?
A Licensing Agreement is the legal document that establishes a relationship between the licensor and license. It describes the scope of the agreement between the parties, covering such things as exclusivity and territorial restrictions, the financial aspects, including royalties, minimum sale requirements, length of contract, and renewal rights.
Licensing Agreements also establish the rights of the parties, including the licensor’s rights to monitor and control the quality of intellectual property being licensed, termination rights, and payment arrangements.
Things You Should Know…
Entering into a Licensing Agreement to allow others to distribute or sell your product or intellectual property can be very exciting, yet complex. Properly drafting a Licensing Agreement requires understanding of business and law, particularly intellectual property law. An improperly drafted Licensing Agreement can have a negative impact on your rights, tarnish your brand, and limit the geographic territory in which you can distribute or license your product or intellectual property in the future.
I take Licensing Agreements very seriously, making sure that all the T’s are crossed and the I’s are dotted. I work closely with my clients to understand their licensing goals and objectives, research the industry they are in, and draft a well-structured Licensing Agreement that is effective and easy to understand.
The following is a list of legal services I provide under the Licensing Agreements area of law:
- Negotiation Licensing Agreements
- Drafting Licensing Agreements
- Reviewing Licensing Agreements
- On-Going Support and Legal Counsel
Please remember that I don't give legal advice over the phone or via email. The information you obtain on this site is not, nor is it intended to be legal advice. Please visit the Disclaimers page to learn more.