A license is an agreement by the holder of intellectual property that permits a third party to use and exploit the intellectual for their own benefit. Licenses are commonly used with regard to brands, technology, processes and other types of intellectual property. Licensing issues range from the simple to the complex and should be addressed with the help of highly qualified legal counsel. The Santa Clarita business attorneys at Poole & Shaffery, LLP are respected in the business community for their ability to craft licensing agreements that reflect the specific needs and objectives of their licensing clients.
Commercializing new products may include the licensing of the new product to other business entities. All terms of the agreement must be carefully evaluated, taking into account the objectives and projected growth of the licensor, as well as the restrictions placed upon the licensee with regard to use, markets, territory, quality control and all other matters. The parties to the license agreement must also negotiate the consideration to be paid or exchanged for this license. License consideration may include, among others, lump sum or periodic license fees, royalties based on sales, or equity interests in the licensee. The range of licensing grants, restrictions and other arrangements are extensive, and are designed to meet the unique objectives and requirements of the parties involved. These complex business and financial agreements should be managed by a legal professional familiar with licensing throughout every step of the process.
Call the firm today to discuss intellectual property licensing: (855) 997-7522