What Is A Licensing Agreement And When Are These Necessary?
Generally speaking, a licensing agreement is when one person owns a intellectual property and gives another person the right to use that property to monetize it. It is essential to have an agreement anytime you’re involved in that kind of activity.
What Components Should Always Be Included In A Licensing Agreement?
One thing to ensure is included in a licensing agreement is what the specific payments are and how they will be calculated. You want to make sure that you’re identifying the particular assets, ideas, or property that’s being sold or marketed, who owns it, what’s being transferred, and what rights anyone has in that particular idea.
For more information on Licensing Agreements in Pennsylvania, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (610) 756-2300 today.
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