what type of attorney handles licensing agreements

How do you negotiate a licensing agreement?

How to Negotiate a Licensing Agreement Like a ProDo your homework. ... Start with a term sheet. ... Manage your expectations. ... Be patient. ... Have a win-win attitude. ... Don't lose your sense of humor. ... Remember to hold something back. ... Put yourself in their shoes.More items...•Mar 6, 2015

Who are the parties involved in the licensing agreement?

Licensing agreements are legal contracts that are written between two parties—a licensor and licensee.

How do you do a licensing deal?

License Agreement TipsFirmly establish ownership. A good contract should clearly state what rights are being granted pertaining to the intellectual property in question. ... Do not overlook definitions. ... Define the royalty system. ... Explain the quality assurance monitoring process. ... Be aware of government regulations.

What are the 3 types of licensing agreements?

Practitioners and licensing executives often refer to three basic types of voluntary licenses: non-exclusive, sole, and exclusive. A non-exclusive licence allows the licensor to retain the right to use the licensed property and the right to grant additional licenses to third parties.

What are the 6 components of a license agreement?

Precisely identifying which intellectual property will be the subject of the license is necessary to ensure both parties are on the same page and not exceeding their rights.Scope of the Grant. ... Exclusivity. ... Territory. ... Term. ... Compensation. ... Termination. ... Conclusion.May 28, 2019

Which of the following is a characteristic of a licensing agreement?

A licensing agreement is a legal contract between two parties, known as the licensor and the licensee. In a typical licensing agreement, the licensor grants the licensee the right to produce and sell goods, apply a brand name or trademark, or use patented technology owned by the licensor.Feb 6, 2020

What do licensing agreements look for?

Factors to Consider When Creating a Licensing AgreementMeet with a contract lawyer. ... Establish your ownership. ... Be ready for ownership disputes. ... Understand what is stated. ... Discuss royalties right away. ... Be mindful of government regulations. ... Think about how taxes will work. ... Research the other party.More items...

How important is the licensing agreement?

An effective licensing agreement is the most effective solution for protecting your intellectual property. A licensing agreement allows owners of intellectual property to authorize third parties to use, alter, or resell the property for a mutually agreed-upon price, without transferring ownership to the third party.

Why do companies use licensing agreements?

Licensing involves obtaining permission from a company (licensor) to manufacture and sell one or more of its products within a defined market area. The company that obtains these rights (the licensee) usually agrees to pay a royalty fee to the original owner.

What are the types of license agreements?

Types of licensing agreement The unique feature of this type of agreement is that even the licensor is excluded to use or exploit the licensed property during the term of the agreement. Copyright, trademark and patent licenses are the best examples of an exclusive license agreement.Jul 18, 2020

What are different types of licensing?

How to decide between types of licensing agreementsPatent Licensing. Patents cover science and innovation. ... Trademark Licensing. Trademarks are signifiers of commercial source, namely, brand names and logos or slogans. ... Copyright Licensing. ... Trade Secret Licensing. ... Exclusive. ... Non-exclusive. ... Sole. ... Perpetual.More items...•Oct 24, 2019

What type of licensing agreements are available?

There are three key types of licences.Exclusive Licence. An exclusive licence, as the name suggests, is a licence that allows the licensee exclusively to both use and commercialise your IP. ... Non-Exclusive Licence. A non-exclusive licence allows you to licence the IP to multiple different parties. ... Sole Licence.Apr 29, 2020

What a Licensing lawyer can do for you

A licensing attorney can create the legal framework to protect your ownership of your patent, trademark, or copyright. Intellectual property licensing lawyers create licensing contracts for individuals or businesses that have created original works, and they will help maximize the revenue gained from licensing these products.

Why hire a Licensing attorney

If you are a copyright, trademark, or patent owner and someone wants to use, for example, your artwork, trademarked slogan, or patented invention, you may benefit from the services of a licensing attorney. Licensing attorneys write contracts that protect your intellectual property rights.

Did you know?

The top 5 receiving offices for patent applications in 2010 are as follows: 1. United States 2. China 3. Japan 4. Republic of Korea 5. European Patent Office

What is a licensing agreement?

A licensing agreement is a legal contract by which one party that owns certain IP allows another party to use that IP. The party who owns the IP (the licensor) receives payment (a royalty) when the other party (the licensee) uses the IP. Licensing agreements can be broken down by the types of IP they license.

How is a term license organized?

A term license is organized one of two ways: (1) the licensee can pay a one-time fee for a certain term or (2) the license can pay per use (these are traditional royalties). Term licenses are much more common across all industries.

What is patent licensing?

Patent Licensing. 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.

What is a trademark?

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.

What is a trade secret license agreement?

Trade secret licensing agreements often come with non-disclosure agreements (or NDAs). NDAs state that the party receiving certain confidential information cannot share it with anyone. 2. Decide whether you’d like your license to be exclusive.

What is exclusive license?

Exclusive. Exclusive licenses are those that create a unique relationship between the licensor and the licensee. In these types of licensing agreements, the licensor agrees that the licensee is the only one who can make use of the IP. These usually cost more for the licensee.

What is sole license?

Sole. In a sole license, the licensor agrees to use just one licensee, but the licensor reserves the right to continue to use their IP, as well. 3. Decide on the duration of your license. There are also two different types of license agreement durations.

What are the different types of intellectual property?

There are four basic types of intellectual property that most businesses, inventors, and creators will encounter: 1 Copyrights: Copyrights protect original works of authorship fixed in any tangible expression form. 2 Patents: Patents protect original inventions. 3 Trademarks: Trademarks protect words, names or symbols identifying goods or services. 4 Trade Secrets: Trade secrets protect methods or systems, such as customer lists, sensitive marketing information, non-patented inventions, software, formulas and recipes, techniques, processes, and other knowledge.

What is intellectual property?

Intellectual property (IP) is essentially intangible property. Unlike tangible property, like a car or a piece of land, intellectual property includes art, music, poems, inventions, designs, processes, and logos.

Is copyright automatic?

Some intellectual property protections, such as copyrights, are automatic in some situations but may be formally filed with the government (known as "registration"). Other protections, such as patents and trademarks, are granted by the USPTO and the application process can be rigorous and complex.

What is a license for a photo?

A license is essentially a contract that helps you control, manage, protect, and profit from your intellectual property.

Is a trade secret a federal or state law?

And trade secrets are often not "filed" at all, but are nevertheless still protected by a combination of state and federal law. Once you have a handle on your intellectual property rights, you can begin to think about the shape and structure of your licensing agreement.

What is a license for software?

Licenses protect proprietary rights in areas such as software and other computer products. You can use a license to give someone permission to use your intellectual property in a certain way for a certain time for a certain price.

Do I need an attorney to draft a contract?

You also do not necessarily need an attorney to draft the agreement (though it can often be helpful and advisable, depending on the complexity of the project and the dollars involved). Here are some terms and factors to consider when drafting your agreement.

What is an estate planning lawyer?

The estate planning lawyer specializes in wills and trusts, and can help you to draw up a will to pass on your assets. Among other estate planning legal services, this type of lawyer can help you set up a trust which will help take care of your children’s financial needs.

Do doctors make mistakes?

Doctors do occasionally make mistakes, and if you’re facing the consequences of a medical mistake such as a medical misdiagnosis or inaccurate treatment, a lawyer who specializes in medical malpractice issues can be particular helpful.

What is an IP lawyer?

Also known as an IP attorney, an intellectual property lawyer can advise you with regard to issues relating to intellectual property, such as copyrights, trademarks, patents, industrial design and trade secrets.

What is an employment lawyer?

Employment Lawyer. Whether you’re a company that’s having a problem with an employee, or an individual who’s having problems with the company you work for, an employment lawyer can generally provide advice about legal issues which arise from an employment contract or within an employment relationship.

What can a corporate lawyer do for you?

A corporate lawyer will be able to help you with issues related to the formation of your corporation, general corporate governance issues and corporate compliance issues.

What is a worker's compensation lawyer?

If you’ve been injured while on the job, or have had to face the death of a loved one as a result of a workplace accident or occupational disease, a lawyer who specializes in workers compensation law can help you navigate the issues you face, such as the extent of the employer’s fault and the amount of benefits to which you are entitled.

What is general practice law?

Unlike lawyers who specialize in a particular area of law, a general practice lawyer has a practice that handles a wide range of legal issues. Different general practice attorneys will have different areas of law with which they are most comfortable, so if you consult with a general practice lawyer, it’s always prudent to discuss his or her experience in handling the type of legal issue you’re facing.

What is a licensing agreement?

A licensing contract, or a licensing agreement, definition is a type of contract where one party grants another the right to sell, produce, use, and/or display protected material including a copyright, trademark, logo, and/or patent. These contracts usually include a fee for the use of the protected material. ...

Who is the licensee in a contract?

The party being granted the license in the contract is the licensee. In some licensing contracts, the licensor may exchange a product or service for the use of the material. A large number of licensing agreements result from the cooperation with a licensing agency or a licensing agent.

What is licensing law?

Engages in the unauthorized transfer of rights to a third party. Unlike other areas of contract law, licensing law is highly regulated by both federal and state law.

What are some examples of copyright violations?

One example is copyright infringement or the unauthorized use or appropriation of protected materials which can result in severe criminal consequences for the defendant, including jail time and/or criminal fines. A breach of a licensing contract may also expose an individual to civil liability.

What happens if you breach a licensing agreement?

A breach of a licensing contract may also expose an individual to civil liability. Many breach of contract claims create great financial losses for the non-breaching party. Therefore, a successful breach of licensing agreement claim may result in a large damages award for the non-violating party.

What is transfer of rights?

In most cases, the transfer of license rights is done for a monetary fee and the payments are collected in the form of royalties. There are different types of licensing agreements. One commonly used is a music licensing agreement. When a music artist creates an original song, they own the copyright to that song.

What is music licensing?

The music licensing agreement defines how their song may be used and who has the rights to use it. A company allowing another company to utilize a trade secret. Licensing agreements are valuable tools for companies that own rights to a valuable product but are not able to manufacture the product.

Why do we need malpractice lawyers?

Since these are professions that ascribe to a set of standards , they have greater professional responsibilities that may be challenged in the courtroom or in litigation.

What is IP law?

1. Intellectual Property (IP) Lawyers. Any original creative, scientific, or technical invention which may benefit the public has to be protected ...

Is a civil litigation lawyer a general lawyer?

Technically, all areas of law already mentioned on this list may also be considered civil litigation cases. This is why a civil litigation lawyer is regarded as a general lawyer. However, their primary work comprises handling cases involving a breach of contract. While this may seem simple compared to other areas of law, contract disputes can be a tedious process. So, it will pay to hire an excellent civil litigation attorney who can easily spot the finer details of the case.

What is an intellectual property lawyer?

Any original creative, scientific, or technical invention which may benefit the public has to be protected from copycats and duplicates. If you've created an art design, a unique product, a novel, a song or a computer program, you can consult with an intellectual property lawyer for securing copyright, patents, trademarks, and licensing agreements.

What is a family lawyer?

Family Lawyers. These are lawyers who handle all kinds of domestic cases, such as divorce, legal separation, child custody, adoption, paternity, alimony, prenuptial or postnuptial agreements, and emancipation. But family attorneys may also handle reproductive rights cases, and their work may intersect with other areas of the law.

What is a personal injury lawyer?

This lawyer is an expert in tort law, which deals with civil legal liabilities and damages.

What is a business lawyer?

Also known as corporate lawyers, business lawyers are legal eagles who cover a more full range of expertise in building, managing, maintaining, transferring and dissolving a business. Lawyers in this area of practice deal with the formation of the company, employment contracts, tax compliance, acquisitions, and mergers.

What is patent license?

A patent license is a performance-based agreement and it’s very specific about milestone benchmarks and timelines, such as IP development and royalty payments. If they are not met, you have the right to end (terminate) the agreement. The common forms of patent licenses include exclusive, non-exclusive, and cross-licenses.

Who is Rand Brenner?

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. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the number one kid's action TV show, the Mighty Morphin Power Rangers. Rand speaks about licensing and is a featured speaker at investment conferences, trade shows, colleges, and startup events. He’s a published writer with articles appearing in several prestigious trade magazines including The Licensing Journal, Intellectual Property Magazine, and License India.

What is an exclusive patent?

The common forms of patent licenses include exclusive, non-exclusive, and cross-licenses. An exclusive patent license is more valuable to the licensee than a non-exclusive license. For example, a new engine-related invention is licensed exclusively to different manufacturers in the airplane, motorcycle, and boat industries.

What is trademark license?

A trademark license focuses on control over the type and quality of the licensed products or services. It protects the reputation and quality of the trademark or brand. It allows the licensee to use the brand or trademark to sell its products or services. The biggest difference between a trademark and patent or copyright license is the degree ...

What is a copyright license?

A copyright licensing agreement gives someone a limited number of rights to use your copyright for a certain period. The key is limited. It restricts the use of other rights. For instance, a book is licensed for reproduction and distribution rights to a publisher, but not the rights to any derivatives (such as a TV show) or the merchandise.

What is a trade secret agreement?

Trade secrets are often included in a patent license agreement (known as a hybrid agreement). In many cases, they enhance the value of the patent and can extend the life of the patent license agreement. You wouldn’t use a commercial lease to rent your one bedroom house. The same is true for licensing.

What is a licensing agreement?

Licensing agreements create the partnership. It specifies how the partners get in, what each partner agrees to do, and how you get out. The most common types of licensing agreements include technology (patents), trademarks (merchandise), copyright and trade secrets (know-how). Sometimes these agreements include more than one type of IP.

Need Help Drafting Or Enforcing A Contract?

Whether you are a small business, large company, or individual, a contracts lawyer can offer the legal advice you need when dealing with contracts.

How Do I Choose A Contract Lawyer?

Consider the following when determining which law firm should provide legal representation for your contract case:

Licenses and Your Rights

What Should Be Included in A Licensing Agreement?

Licensing Agreement Enforcement

Importance of Obtaining Legal Guidance

• Intellectual property is complex. Licensing of intellectual property involves a tricky mix of legal and business judgment, and also requires a degree of specialization. An attorney with experience in particular types of intellectual property transactions, such as trademark listening or copyright licensing, can provide invaluable help with drafting ...

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