Once you have properly protected intellectual property, there may come a time when you want to transfer certain ownership or use rights to other companies or individuals. This deal should be governed by a carefully negotiated and drafted licensing agreement. If you are considering licensing any intellectual property rights, you should first discuss the matter with a highly experienced business lawyer at Randick O’Dea & Tooliatos, LLP.
When a small business, entrepreneur, or inventor obtains a patent or trademark, they often want to monetize the product or brand by licensing rights to others. You may not have the capital to produce an invention for a mass market yourself, so you may enter into a licensing agreement with a manufacturer who produces it while you maintain the patent ownership rights. Similarly, you may license another company to manufacture and distribute something under your trademarked brand.
Licensing agreements can be lucrative. If you have a valuable patent or trademark, companies will often pay substantial sums to utilize that patent or trademark. However, there are also many risks and details to consider when negotiating a licensing agreement. Our attorneys can help you negotiate the following, and more:
- Will you issue an exclusive or non-exclusive license?
- What type of consideration will you receive? Will you receive a lump sum of cash or royalties?
- Should you limit the geographic territory of the license?
- What will be the start date and expiration date of the license?
- Will you need to approve all promotional and marketing materials related to the licensed product?
- What are your rights if the company oversteps the limits of the licensing agreement?
Consult with Our Experienced Pleasanton Business Lawyers
At Randick O’Dea & Tooliatos, LLP, we can help ensure that you have an enforceable licensing agreement that protects your IP rights, as well as serves your interests. Please call 925.460.3700 or contact us online to discuss licensing agreements further.