Intellectual Property Licence Agreement
Intellectual Property use, assignment, exploitation and development is at the centre of most businesses and companies globally, as it is the value which is built within the business based on leverage of the Intellectual Property it has created. There are a few ways in which Intellectual Property can be monetised directly and this is often by way of license (use without ownership) or by way of assignment (transfer of ownership). Whilst many businesses use Intellectual Property License Agreements for intra-company arrangements, it can also be an important part of most commercial agreements when one parties Intellectual Property is being used by another, as it sets the rules and expectations around that use.
What is it?
An Intellectual Property License Agreement contains commercial and contractual terms between an Intellectual Property owner and a user or Licensee of the Intellectual Property. The Agreement sets out “rules” of the license of the Intellectual Proprety and usually contains a variety of provisions around usage, exploitation, variation and on-selling or sub-licensing the Intellectual Property.
Whether your looking to license your trademark, a patent, copyright, design, source code or another form of Intellectual Property, a license agreement protects the Intellectual Property owner from any misuse or misappropriation of the Intellectual Property by a Licensee
An Intellectual Property License Agreement provides parties with an enforceable and binding agreement in order to ensure all parties are aware of their rights and obligations to each other and importantly it offers protections to both parties in the event of breach or non-compliance.
Why Law Squared?
Named Australia’s most innovative law firm, Law Squared is a true alternative to the traditional law firm model offering a service which is efficient, and tech enabled. With offices in Melbourne, Sydney and Brisbane working with fast growth and large enterprises (including ASX listed entities) for all of their commercial law needs, Law Squared has four legal teams covering the areas of commercial, corporate, litigation and employment and workplace relations.
We offer a fixed fee, or Law Squared as a Service (LSaaS) arrangement for our clients ensuring transparency on costs at every step of the engagement.
To speak to one of our lawyers about how we can help, please contact us.
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