An Intellectual Property Licence Agreement allows an owner of intellectual property, to grant to another person or entity (referred to as the “licensee”) the right to use certain intellectual property, and sets out the rights associated with that use.
This is not to be confused with an Assignment of Intellectual Property Rights Agreement which is the complete and exclusive transfer of ownership of the intellectual property.
Intellectual property is any original and valuable property created by someone’s creativity, thought, mind or intellect. There are various categories of intellectual property:-
Intellectual property can be licenced to others to allow the intellectual property to be marketed effectively and commercially exploited. Therefore it is vital you have an effective written agreement in place so all people involved know their rights and responsibilities.
Types of licence include:-
The cost of the right to use the intellectual property may be, for example:-
