Licensing is one of the ways a business can see a return on the investment it has made in developing its intellectual property rights. While still retaining ultimate ownership of their intellectual property rights, businesses can “licence”, their intellectual property rights to third parties, by giving them consent to carry out certain acts in relation to the intellectual property rights that would otherwise constitute infringement. In consideration for this consent, the third parties pay royalties to such businesses, which provide them with regular income.
We have a wealth of experience in advising on the legal and commercial terms of licensing agreements, including advising clients on whether an exclusive, sole or non-exclusive licence would best align with their business model and on suitable conditions for inclusion, for instance, if products are to be produced under the licence, quality control provisions.
If you would like any advice or assistance in connection with the preparation of a licence agreement please contact us.