Licensing Intellectual Property Rights

What is a license?  In a nutshell, it is a promise not to sue.  For example, the fictitious 007 British spy had a "license to kill."  In essence, this was a promise from the British government not to prosecute 007 for the many murders he committed provided he continue to save civilization from world domination by various evil-doers. 

Thus, the license agreement fundamentally involves the licensor promising not to sue the licensee for using the licensor's intellectual property.  In return, the licensee pays the licensor a royalty.

Types of Licenses

In the realm of intellectual property there are several licenses of particular interest that our firm sees with great frequency:

1. Patent Licenses

2. Trademark Licenses

3. Software Licenses

Intellectual property licensing arises in various circumstances.  A license may be granted to a company seeking to manufacture a novel product developed by an inventor.  Two companies settling a software copyright infringement litigation may agree upon a software license so there is no disruption in the defendant's product availability.  A trademark license may be granted to permit another company to use a mark provided the underlying product is of a certain quality and consistency. 

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