What should I know about a licensing agreement?

What should I know about a licensing agreement?

When you come up with a great idea for some form of intellectual property, you need to make sure you protect it. There may be instances in which you want to have the intellectual property protected as your own but also allow others to sell, market, and distribute your work. In order to do this, you will want to create a licensing agreement.

There are a number of different factors that need to be taken into consideration when you are thinking about getting a licensing agreement. Make sure that before you do anything, you consult with an experienced intellectual property attorney who can determine whether getting a licensing agreement is best for you or whether you should consider other options.

In a licensing agreement, you have the ability to make decisions regarding factors that include confidentiality, exclusivity, sublicensing, territory, time frame, indemnification, and specifications about royalties you may receive from each sale or use of the property.

If your licensing agreement has been breached by another party, you may want to take legal action to hold them accountable. Your intellectual property attorney can help you work towards recovering damages for any consequences you have faced because of their unlawful actions.

If you need legal assistance for any intellectual property matter, contact The Law Offices of Richard E. Novak, LLC today.

Our firm has over 25 years of experience helping clients through tough times. If you need assistance with any intellectual property, traffic violations, or business law matters, our firm is here to help. It is critical that you pick the right attorney who can protect your rights. Contact The Law Offices of Richard E. Novak, LLC for a consultation.