Most businesses have some form of Intellectual Property that would be of benefit, in one form or another, to other businesses. However, only a few entities ever pursue the path of generating additional revenue from their IP through Licensing.
Whether it is a brand name, a Trade secret or a manner of manufacture of a product, licensing IP could generate new revenue streams or help secure the freedom to operate in a particular area, even for small companies.
One of the main reasons why businesses may be reluctant to consider Licensing as an option is the fear of letting third parties, especially competitors / potential competitors getting hold of their technology. There may be genuine concerns that providing competitors access to their technology could result in the competitor getting ahead of the licensor in that industry. However, if implemented effectively Licensing could not only prevent a competitor patenting an improvement of a technology a licensor owns, (thereby depriving the licensor from the better result) without the licensor's permission, but could also generate revenue through Royalties.
We have expertise in implementing good practices in licensing and can assist your business in matters of licensing your technology locally or internationally helping you exploit your IP much more effectively. Furthermore, we can help implement quality measures in licensing to ensure that your licensees' products meet your specific requirements of standard and quality.
Pre-licensing due diligence & vetting of potential licensees.
Drafting Licensing agreements & analysing and reviewing terms of a licence;
Advice on whether you should sign a specific licence (and whether it is likely to be enforceable in a Court of Law, in England and Wales).
Drafting and reviewing Cross-licensing; technology transfer & trade mark co-existence agreements.
Drafting letters to potential licensees and leading licensing negotiations on your behalf.Licensing booklet - [provided by the UK Intellectual Property Office]