Drafting IP Licensing Agreements for businesses. Details:
IP Licensing Agreements are very crucial during commercialisation and market entry strategy formulation. Technology Licensing is also a viable option in some cases.
What Is Licensing?
Generally, a “License” refers to a right granted by a first party to a second party, wherein the first party is known as licensor and the second party is known as licensee. The grant of a license by the licensor to the licensee constitutes an element of an agreement between those parties.
By way of executing a licensing agreement, the licensor authorizes the licensee to use the licensed material, which may be a technology or an Intellectual Property (IP), such as, for example, Patent, Trademark, Copyright, Design etc.
Types of Licensing Agreements
Broadly, IP licensing agreements are of following types:
Technology License Agreement
Trademark Licensing and Franchising Agreement
Copyright License Agreement
Crucial points while executing a licensing agreement include various requirements for effective licensing agreements, which also define nature of rights that can be licensed and certain rights which are not licensable.
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