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Licensing Intellectual Property

Intellectual Property

Licensing Intellectual Property


By DeAnn Flores Chase September 28, 2018    Category: Business Law

Licensing Intellectual Property

Licensing intellectual property allows businesses to capitalize on the name of other brands in exchange for royalty payments. The owner of the intellectual property is known as the licensor and the business or individual gaining a right to use the intellectual property is known as the licensee. There are many well-known brands and products that utilize licensing as part of their business strategy. For example, t-shirts, shoes, hats, etc. bearing the name of a sports team requires a licensing agreement that explicitly permits the manufacturer to produce these goods with the sports team’s intellectual property emblazoned upon it. Generally, the... READ MORE