Utah Licensing Attorneys

Licensing agreements lend intellectual property to another business or individual for a fee. Typically licensing agreements go hand-in-hand with other forms of intellectual property protection. Licensing agreements can be useful in entering new markets, or starting a franchise, but require a skilled contract attorney. That’s where we come in!

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Licensing Agreements Defined

Licensing involves an agreement between a licensor, who owns a form of intellectual property, and a licensee, who will be using it. A licensing agreement is legally binding and includes the terms of the contract and the relationship between the two parties. These agreements also include information such as compensation, royalty, fees, and exclusivity requirements. Copyrights, patents, trade secrets, and trademarks have different types of licensing agreements associated with them.

Royalties and Licensing

Licenses can allow for a company to generate revenue through royalty payments made by the licensee. Other uses for licensing include ownership, asset value, or improving portfolios. Licensing can be a good way for a business to enter a new market, as there are low associated risks. Manufacturing is unnecessary when entering a market with licensing, and the property owner still has some control over the image of the IP. Licensing allows the business to save money when entering new markets without sacrificing its power over the IP.

Licensing for Copyrights and Franchises

In some cases, licensing is used on copyrights to receive a profit from creative works. Additionally, software, character, and franchising agreements all use licensing agreements to offer the creator of the intellectual property control and profit without investment. Licensing agreements specifically offer franchisors protection, as it keeps any trademarks used by franchisees safe. In franchises, licensing protects the franchisor's IP so that the franchisee cannot use it for their profit outside of the franchise.

Licensing Infringement

Licensing can be a significant opportunity for many businesses but can lead to infringement. Our licensing attorneys work with their clients to draft, negotiate, and finalize licensing agreements. They are experienced with the requirements of licensing contracts and work collaboratively to create compliant arrangements. In some cases, a licensor or licensee does not follow the terms of the agreement. In these situations, our intellectual property litigation team assists in protecting the rights of our clients.