Intellectual property—a very important concept in today’s networked world—is controlled by license agreements. A license agreement allows a creator (the “licensor”) of intellectual property to permit another person (the “licensee”) to use that property, usually for fee, without surrendering ownership.
Examples of intellectual property controlled by license
- Copyrighted materials such as software
License agreements have to address many details: the length of the use, the territory where the licensee can use the intellectual property, the markets covered, and—of course—the fees. Licensors also need to carefully protect how the licensee uses the intellectual property so that its value is not diminished. Finally, to avoid any future disputes about ownership, license agreements must make clear to the general public who is the true owner of the intellectual property. Depending on the technology, the parties may also need to make clear what rights are granted with respect to future improvements to that technology (upgraded versions, etc.).
Business attorney Steve Sneiderman has experience on both sides of these types of agreements and can provide you with valuable guidance. Contact him for intellectual property assistance today.