What is a Licensing Agreement?

The term license implies to allow by grant of authority. Therefore, a licensing agreement is a contract between two parties - namely the licensor and the licensee. It is normally a written contract where the property owner allows the licensee to use his or her property for a particular time frame. The licensor is usually given some money to serve as consideration by virtue of allowing his property to be accessed. Agreements regarding licensing are normally signed so as to secure those properties that are not tangible for instance patents, copyrights, trademarks to safeguard technological innovations, company names, logos amongst others. In the case of extreme licensing agreement, the licensor gives the licensee the leeway to manufacture and sell products, utilize their brand name or make use of the licensor's patented technological know-how.

How Does a License Agreement Work?

Business assets are the ones that are mostly licensed. All types of business assets can be licensed although licensing mostly entails intellectual property such as copyrights, patents, and trademarks. Digital assets such as trademarks and apps are usually licensed.

• Copyright licenses-entails the right to replicate the production and selling of the copyrighted commodity and derivative works. The right to do the work in public may also be licensed.
• Patent licenses- include the privilege to manufacture, sell, utilize, give out and sell overseas the patented commodity.
• Trademark licenses- this entails the privilege to utilize the trademark on particular objects in certain ways.
• Trade secret-this includes the privilege to make use of the trade secret in certain ways, a particular place and in specific procedures.

When coming up with the licensing contract, one should get a legal practitioner who is well conversant with licensing agreements. These consensuses tend to be complex and particular in nature. Utilizing internet sources is never the appropriate method to use when developing such agreements. A good number of advocates understand how to develop universal or general contract unfortunately, they may not have the knowledge on how to derive a licensing agreement. It may be advisable, to begin with an intellectual property attorney.

Related Topics

• Intellectual Property Law (Intro)
• What is Intellectual Property?
• What is the purpose in granting intellectual property rights?
• What is required to capture or secure intellectual property rights?
• California Labor Code 2870
• What are Trade Secrets?
• Non-Disclosure Agreement
• Patents or patent rights?
• Letters Patent
• Primary types of patents?
• What Can I Patent?
• Requirements for a valid patent?
• Can your Invention be Patented?
• What is a Patentability Search?
• When is a Patentability Search Necessary?
• Why is a Patent Search Important?
• Requirements for a design patent?
• How to Do a Design Patent Search
• Cost of a Design Patent
• Requirements for a utility patent?
• Why Do You Need a Utility Patent?
• Plant Patent?
• Process for securing patent rights?
• Patent Search
• Basics of Doing a Patent Search
• 5 Rules for Effective Patent Searches
• What are Patent Databases?
• Tools for Patent Searches
• DIY Patent Search
• Understanding Patent Keyword Searches
• Patent Searches for Software
• Doing a European Patent Search
• WIPO Patent Search
• Cost of Doing a Patent Search
• Patent Search vs Patent Analysis
• Structure of a Patent
• Patent Filing Date
• Patent Attorney
• Do You Need a Patent Lawyer?
• Applying for Design patent
• Provisional Patent?
• Applying for Provisional Patent
• Doing a Provisional Patent Search
• How to Draw Up a Provisional Patent
• Converting a Provisional Patent to a Non-Provisional Patent
• What Does Patent Pending Mean?
• Process for enforcing ones patent rights?
• Patent Infringement
• Patent Troll
• What is a Trademark?
• Types of trademark?
• Requirements to capture trademark rights?
• Distinctiveness requirement for a Trademark?
• Determining whether a trademark is sufficient distinctive?
• What is Federal Trademark Registration?
• Conducting Trademark Search
• Should I Conduct a Trademark Search?
• Trademark Application
• Drawing a Trademark
• Filing for federal trademark registration?
• Protections of trademark rights under state law?
• Primary reasons for rejecting a trademark application?
• Common trademark designations?
• Trademark infringement?
• Enforce trademark rights?
• Demonstrate infringement of a trademark?
• What is a copyright?
  
• Digital Millennium Copyright Act or DMCA Explained
• Basics of Copyright Law
• What are the rights of a holder of a copyright?
• What are the elements of a copyright?
• How long is the period of copyright protection?
• What is the process for registering a copyright?
• Who may claim and secure copyright protection?
• What are infringement and the process for enforcing a copyright?
• What are the defenses available against a claim of copyright infringement?
• Public Domain Works
• Licensing Agreement
• End User License Agreement
• What is Fair Use of copyright?
• What is the First Sale Doctrine?
• What international protections exist for intellectual property rights?
• Paris Convention