Licensing Agreements & Intellectual Property
Are you interested in licensing your intellectual property rights to other companies? Do you want to allow others to use your ideas or technologies? Then it would be best if you had robust licensing agreements in place.
Our team of expert business solicitors have the skills and experience to guide you through the licensing process with ease. We’re able to help you at all stages of the agreements and contracts process and have a fully adaptable service.
IP and licensing agreements – what you need to know
If you have decided to license your IP or business assets, you need strong licensing agreements in place. This kind of arrangement will serve to protect your IP and assets. Besides, it will also protect your commercial interests and endeavours.
Intellectual property or IP refers to “…creations of the mind, such as inventions, literary and artistic works, designs, symbols, names and images used in commerce.”. Your intellectual property can often be just as valuable – if not more so – than tangible property. Therefore, it’s vitally important that you protect your IP through patents, trademarks, copyrights, and other legal means.
What happens once my IP is protected?
Once you’ve protected your IP, it can then be licensed to allow others to use. This license allows another party to use your IP in return for a one-off payment, recurring fee or for some other benefit.
IP and licensing agreements are often complex documents that govern how third parties can use your intellectual property. These documents must ensure that the owner retains suitable protection of their property. It can restrict or withdraw the licence if the licence holder abuses the rights. This step is critical when you are entering into an IP or licensing agreement with overseas persons, as the rights owner may not be familiar with the local laws relevant to the use of the rights. As such, they may wish to ensure that the licence holder assumes full responsibility for compliance with them. Rights owners may also want to ensure that an explicit territorial restriction applies to the licence holder. These restrictions prevent them from operating in parts of the world reserved for other licence holders.
Intellectual property and licensing agreements require careful thought and negotiation. Taking care and consideration at this stage ensures that there are no loopholes or glaring omissions that allow abuse of your IP. It’s vitally important that you consult with an experienced Commercial lawyer before entering into such an agreement.
How we can help your business
The team at Nash & Co Solicitors have a wealth of experience in representing and working with rights holders to license intellectual property. We can advise on exclusive agreements, warranties, liabilities, sub-licenses, non-exclusive agreements and renewals of IP licenses.
From drafting licensing agreements to contract negotiations, we offer a complete service.
Find out more
For more information on our intellectual property and licensing agreements services, please contact us. You can reach Austin Blackburn or one of our Commercial lawyers by phone on 01752 827125. Alternatively, you can email Austin at [email protected].
You can also arrange a call back from any of our solicitors in Plymouth by submitting a request through our contact form.