An IP licensing agreement occurs between an IP rights owner (“licensor”) and someone who is authorised to use the rights (“licensee”) in exchange for monetary value in the form of a fee or a royalty.
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An IP licensing agreement occurs between an IP rights owner (“licensor”) and someone who is authorised to use the rights (“licensee”) in exchange for monetary value in the form of a fee or a royalty. The two parties agree on the terms and conditions via negotiation, with the outcome dependent upon the bargaining power of each side. The licensor is always the owner of the licensed IP, and one licence can cover patent and design rights, related know-how and a trade mark. The agreement between the two parties can allow the licensor to tap into the licensee’s productive capacity and relevant local expertise, thus increasing the licensor’s overall knowledge.
Use this IP Licence Agreement if:
- any owner or creator of intellectual property wishes to commercialise their IP rights, including artists, writers, designers, researchers, inventors and others.
What does the IP Licence Agreement cover?
- IP Rights Being Licensed
- Ownership of IP
- Ownership of IP
- Details of IP Rights
- Moral Rights
- Type of Licence
- Duration of Licence
- Licence Fees
- Assignment and Sub-licence