What is a Licensing Agreement in New Jersey?

If you have a unique idea that you would like to profit from, it is likely that you will benefit from a licensing agreement. It is in your best interest to reach out to our firm to obtain a seasoned New Jersey intellectual property attorney to help support you and your interests. At The Law Offices of Richard E. Novak, LLC, our firm has the experience and skill set to guide our clients through all licensing issues, whether it is to negotiate terms or drafting license agreements as a whole. Our firm is committed to ensuring you obtain the maximum amount of profit you can receive on your unique idea.

What is the purpose of a licensing agreement in New Jersey?

Intellectual property applies to the ideas and concepts that someone comes up with. If you have created an invention or theory, you will likely want to label this as your possession and claim all rights and ownership of it. However, because intellectual property is not a physical or tangible item, it can be a challenge to possess. As a result, many people consider licensing agreements as a way to preserve their ideas.

Licensing agreements protect those who have unique ideas that want to ensure that no one uses those ideas without their permission. This allows for an individual to obtain a license that protects his or her rights and interests so that the individual is the only entity that profits off of the idea.

It is important to note that licensing is a complex process that involves many different personal documents and negotiations. If you are interested in going through this process, you will need a skilled intellectual property attorney.

What can I license?

Most intellectual property can be licensed, including patents, copyrights, and trademarks. A license authorizes ownership of an idea and allows the creator to continue to profit from it. A person can profit from their idea by allowing others to have the right to use, market, manufacture, distribute, or sell the idea, so long as the creator gives permission to do so. This can be done with a licensing agreement that outlines the terms of the arrangement with the following terms:

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

If you have questions concerning how licensing agreements work in New Jersey, do not hesitate to reach out to our firm to learn more.

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.