Licensing arrangements can be complex. Without the right agreement, you could be giving a far wider or longer licence than you expect. So if you’re licensing a trade mark or patent, or the rights to a book, software or anything else, it is essential that you involve a specialist lawyer with the right expertise and experience to advise you through all the stages of the transaction.
At Star Legal we have advised businesses licensing all types of intellectual property, in many different sectors. We can help you understand all the issues involved, including the wide range of payment models that you could consider, from one-off licence fees to royalties and everything in between.
We can also check that you have all the rights you intend to licence. For example, if you have paid someone else to write a smartphone app for you, and you then decide to licence that app to someone else, you may not actually own the intellectual property rights in the app and therefore not have the right to grant the licence, unless you have the right agreement in place with the developer.
It is common for intellectual property licences to include guarantees to protect the licensee (the party taking the licence from you). For example, they may require you to guarantee that you own the intellectual property rights that you are licensing and that you will reimburse any losses suffered by the licensee if someone else later claims that their use of the licensed intellectual property rights infringes their own rights. It is vital that any such provisions are properly considered and limited in scope, as an infringement claim could potentially come from anywhere in the world.
Without expert legal advice, it is all too easy to expose your business to future claims from your licensee. Taking advice early on is a good idea, and our intellectual property lawyers can help you ensure that you get off to the right start. We can also prepare or review the licence agreement, and negotiate the agreement on your behalf with the licensee or their advisers.
To ensure your business is appropriately covered when licensing intellectual property rights, contact us today.