Licensing & Agreements
An Intellectual Property License is a contract established between an Owner of intellectual property (Licensor) and another party (Licensee). The intellectual property that is the subject matter of the License may be a patent, trademark, copyright, technical knowledge and any combination thereof. The license may confer all or a portion of the Owners intellectual property rights to the licensee in exchange for royalties or other benefits to the Licensor. Licenses typically are either exclusive or non-exclusive. Exclusive licenses confer rights to a single licensee, whereas a non-exclusive License confers the same or different rights to multiple Licensees. Entering into licensing agreements is undertaken for many reasons. For example, a License can provide a continuous royalty stream for the owner. A License allows intellectual property owner to confer manufacturing rights and retain the right to sell the product. This is especially useful if the owner does not have manufacturing capability. A License may be entered into to settle a dispute with the exchange of payments or a cross-license as the resulting award. Vivacqua Crane attorneys are experienced in drafting and negotiating complex licensing agreements that not only insure the validity and enforceability of the license through adherence to contract law and intellectual property law principles but also provide a strategic advantage for our clients.