Once a Licensor grants an exclusive license to someone, no other licenses on that IP can be given to anyone else. Exclusive LicenseĪn exclusive license gives the Licensee the exclusive and only suitable one to use the IP – not even the Licensor can use the IP. You can grant a few licenses on the above IP – exclusive, non-exclusive, or sole. Helps licensors retain control over their IP.Details financial information, including when payment is due and how much.Layout the guidelines and rules that cover the use of the licensor’s IP.Trade Secret: confidential business information.Service Mark: recognizable symbol, design, word, or phrase that helps users identify services with a particular company.Trademark: recognizable symbol, design, word, or phrase that helps users identify goods or products with a particular company.Copyright: original work of authorship in a written or tangible form.Several different types of IP can be covered under this agreement: This agreement allows you to set the terms of everything related to that particular IP and protect your proprietary rights, including how the Licensee can use the IP, who owns the IP, who can sublicense the IP, the price of the license for the IP, and how long the Licensee can use the IP. If you own a patent on a valuable piece of technology, have a copyright on a famous photograph, have trademarked a particular image, or own some other invention or creative work you want to make money on, you will need a License Agreement. Term: how long the Licensee can use the intellectual property.Fees: the amount Licensee will be paying to use the intellectual property.Purpose: the purpose for which the Licensee can use the intellectual property.Intellectual Property: the copyright, trademark, patent, or other intellectual property that is the subject of the license.Licensee: the person who wants to use the intellectual property.Licensor: the person who owns the intellectual property.Intellectual Property License AgreementĪ simple Licensing Agreement will identify the following essential elements:.Licensor can own a copyright, trademark, patent, service mark, trade secret, know-how, or other IP.Īs a reference, this agreement is also known by other names: Consequences of Not Using a Licensing AgreementĪ Licensing Agreement is a legal document between the Licensor, the person who owns the intellectual property (IP), and the Licensee, or the person receiving a license to use the IP.Learn about licensing agreements below and how to create one today. Create a licensing agreement to have a written legal agreement between two parties that gives permission from a property owner to another party to use their intellectual property.

Drivers license free templates