Intellectual Property License Agreements
Many inventors and artists make money from licensing their intellectual property. Many businesses license IP from artists and inventors. By licensing their IP, artists and inventors earn revenue without the need to manufacture or market their creativity. Businesses use licensed IP to develop new or existing businesses and improve the quality of their goods or services. Intellectual Property License Agreements are an effective tool for identifying what rights and obligations each party has between the growing business and the artist or inventor who created the intellectual property.
Intellectual Property License Agreements are agreements between an intellectual property rights owner (licensor) and someone else who wants to utilize their rights (licensee) in exchange for payment. The payment is often in the form of a license fee or royalty payment. An IP Assignment Agreement is an agreement between an IP rights owner (assignor) and a purchaser (assignee). As a law firm we can draft these types of agreements including:
- Technology License Agreement
- Trademark Licensing and Franchising Agreement
- Copyright License Agreement
- Patent License Agreement
- Trademark Assignment Agreement
- Copyright Assignment Agreement
- Trade Secret License Agreement
In practice, many of these Intellectual Property License Agreements are combined into another type of agreement or formed as part of a much larger agreement which involved more than just the transfer of intellectual property. Many of these agreements involve a non-disclosure aspect and some involve a non-competition aspect. Additionally, some of these agreements may be involved in a cross-license agreements or in other situations, such as, during a merger or acquisition, or in the course of negotiating a joint venture.
A license or assignment agreement can offer you and your business, a wide variety of opportunities in growing your business or leveraging your creativity both within the United States and abroad. By ADVANCING THE POWER OF IMAGINATION, we can help you and your business leverage your growth, not only for today, but for the future. Please contact us if you wish to discuss how an IP agreement may be good for you.