Sometimes you look at an intellectual property like a patent and realize how much it could do for your business. There’s just one problem though. You don’t own that IP. This is where licensing agreements come in. An Orange County, California IP licensing lawyer can help you make a deal.

Are There Different Types of Licensing Agreements?

There are a few different types of licensing agreements for intellectual property. A lawyer from our firm can help you figure out what kind of arrangement will work best for you and your company. Some common options include:

Exclusive licensing: This gives you exclusive rights to the IP being licensed.

Cross-licensing: This kind of agreement can allow multiple companies to exchange access to different IPs.

Territorial licensing: This allows you to use an IP in a specific region or market, and only that region or market.

Non-exclusive licensing: You get the right to use the IP, but other companies have the same rights as you do.

Field of use licensing: You have the right to use the IP only in some specific applications.

What Kinds of IP Can Be Covered By Licensing Agreements?

There are a few types of intellectual property that can be licensed. We have experience helping our clients secure licensing agreements for IP like:

  • Patents
  • Copyrights
  • Trademarks
  • Trade secrets

If you think that some kind of intellectual property could be useful to your business, we will do our best to help you make a deal.

How Should Disputes Be Handled in Licensing Agreements?

This is something that any contract you sign should establish. All parties involved can agree on the jurisdiction and which laws govern the deal. You can also figure out what kind of dispute resolution method will be used. Options like mediation or arbitration can be more private than a court battle, making them the preferred way of solving problems in multiple industries.

Why Should I License My IP?

If you are the one in possession of the intellectual property that someone else wants to use, you should know that licensing an IP can benefit you and your business in many ways. When you sign licensing agreements, you can increase your reach and expand into new markets or reach new kinds of customers. You can also benefit from partnering with other companies to develop new innovations in your field.

Having licensing agreements can also help you protect your IP. This is because you have clear contracts to point to that set terms of use and your own legal rights. There are always risks to any business deal, but licensing IP to the right people can end up being a smart move.

Talk to an Experienced Intellectual Property Lawyer

If you want to learn more about licensing agreements, how they work, and how our lawyers can help you with them, contact Burns Patent Law to schedule a consultation with our team. We can answer any questions that you have about IPs and patents.