Licensing Issues

Bergen County IP Licensing Attorney

Guiding NJ clients through all licensing matters

If you have a unique idea that can be licensed out to others at a profit, you need quality legal support to protect your rights and interests. The Law Offices of Richard E. Novak is honored to serve IP clients who need guidance through licensing and all matters related to granting rights to others. Our firm uses extensive knowledge and skill through all licensing matters, including negotiating terms and reviewing or drafting licensing agreements. Our firm’s focus is to optimize the return on your great and unique idea. In tandem with our clients, we explore licensing as a means to realize the full potential of their work. If you need a law firm with years of experience in the IP community and skills to best represent your interests, contact The Law Offices of Richard E. Novak, LLC for a consultation today.

What is a licensing agreement?

A license is a way for you to retain ownership while profiting on your idea by granting the rights for others to utilize, market, manufacture, distribute, or sell your work. You have the right to license any intellectual property, including patents, copyrights, and trademarks. The licensing agreement sets the terms of the arrangement, including, but not limited to:

  • Confidentiality
  • Exclusivity
  • Sublicensing opportunities
  • Territory
  • Timeframe
  • Indemnification
  • Royalty specifications

Factors to consider

When considering licensing out your intellectual property, you have a lot to consider. As the one offering the license, you should first contemplate the scope of the agreement. Licensing limits the use rights for your intellectual property. With the guidance of The Law Offices of Richard E. Novak, LLC, we can help you retain ultimate ownership while constructing an agreement that entices others and limits the scope, helping avoid the exploitation of your work. You should have control over the revenue streams. Some of the options to consider include a one-time licensing fee or recurring payments, like royalties. In your license agreement, you may also be able to set terms that make the licensee cover maintenance fees. These factors and more can impact the profitability of your property. The advice and guidance of an experienced IP lawyer may be of significant help.

Enforcement

When a party breaches a license agreement, they are unlawfully acting against a binding legal document. When this happens, it is important to consider your legal options and The Law Offices of Richard E. Novak, LLC is ready to help. Similar to the effects of other breaches of contract cases, when you suffer a loss because of the actions of your licensee, you could pursue damages for lost time, money, opportunity, and other factors. This could come from infringement, pirating, exploitation, etc. When you face a breach of a licensing agreement, our firm will fight for optimal compensation in and out of court.

Contact our firm

The Law Offices of Richard E. Novak, LLC has the experience to provide quality legal support through all intellectual property legal matters. If you are lucky enough to have a good idea that could be profitable through licensing, you should consult with an attorney that can provide you with quality advice and guidance while effectively representing your needs through negotiations, drafting, and enforcing of a licensing agreement. If you need our help, contact The Law Offices of Richard E. Novak, LLC for a consultation.