Licensing Agreements are contracts between two parties (licensor and licensee) which grant rights to utilize an asset, often intellectual property, owned by the licensor. While theoretically a simple premise, the terms and conditions omitted from a licensing agreement can quickly become a point of contention between otherwise amicable business associates. From pricing to indemnification, ensuring licensing agreements outline all key rights, duties, and protections helps minimize potential legal issues in the future.
An excellent method to generate supplemental cash flow, licensing a product or service can afford the licensor a passive means to generate additional revenue while accelerating exposure of their product or service in the marketplace. Baker & Company proactively works with parties to preserve intellectual property rights, clarify obligations concerning exclusivity, duty to defend, and much more.