Licensing Agreements in New Jersey | What to Know
Many people wonder what “intellectual property” actually means. Intellectual property refers to the ideas and concepts that you have come up with. If you have made an invention or theory, you may wish to label this as your possession. But, since intellectual property is not a tangible item, it can be hard to possess. As a result, many people turn to licensing agreements. Read on to learn more about licensing agreements in New Jersey.
What is a Licensing Agreement?
There are many creative people in the world who come up with their own unique ideas. When they do, it is important to have them protected so that others cannot use their ideas without their permission. This can be done with a license that ensures the owner protects his or her rights and interests so he/she is the sole entity who profits off the idea. But, licensing an idea is not always easy. The process can include many negotiations and documents. Because the process can be complicated, it is best to reach out to an experienced intellectual property attorney.
What Can I License?
Any intellectual property can be licensed. This includes patents, copyrights, and trademarks. A license allows ownership of an idea while the creator continues to profit from it. Profit is possible by giving others the right to use, market, manufacture, distribute, or sell the idea with the permission of the creator. This is done with a licensing agreement that outlines the terms of the arrangement with the following terms:
- Sublicensing opportunities
- Royalty specifications
If you have any questions or concerns regarding licensing agreements in New Jersey, contact our firm for more information.
Contact our Firm
The Law Offices of Richard E. Novak, LLC has over 25 years of experience helping clients through tough times when they need it most. 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.