Licensing is a common strategy to commercialise intellectual property as the owner can control use of the IP by licensees while receiving payment of royalties. From the perspective of licensees, taking out a licence is a cost-effective option to investing in development that has already been done.
Intellectual Property is usually licensed by way of license agreements which set out terms and conditions that attach to the use of the IP by the licensees. They regulate the issues of accounts, inspection, sub-licensing, marketing obligation, payment of royalties and so on. Licenses can be given exclusively or non-exclusively.
Our team can assist with negotiation and preparation of a variety of IP license agreements as well as conducting due diligence and audits relating to IP rights.
For more information, call us today on +61 2 9233 1411 or send us an online enquiry.