One can only use someone else’s IP if the IP Owner has granted them a license. Licensing could be the most lucrative way to make a living today. At its basics, licensing is the selling of Intellectual Property rights to a person or business that wishes to produce it for a profit. Intellectual Property could be a Patent, Trade Mark, Copyright, or Trade Secret. A person may be interested in beginning a new business, extending or developing an existing business, or enhancing the company’s reputation in the market in today’s extremely competitive business environment. Licensing of Intellectual Property Rights (IPR) can frequently be successful in reaching such commercial objectives.
A licencing agreement is a partnership agreement between the holder of intellectual property rights (the licensor) and the party who has been granted permission to use those rights (the licensee) in return for a predetermined payment (a royalty or fee). There are three major types of Licencing Agreements:
Purchasing such rights through a technology licencing agreement might be beneficial if a corporate entity is interested in using the patent or utility model rights owned by another company to manufacture new products or services or to improve the quality of existing ones. Additionally, if a company wants to expand the market for a good or service for which they have patent or utility model rights, allowing any other company to use the good or service with the aid of a technology licencing agreement may be the best course of action.
Other businesses might be interested in hiring manufacturers and distributors who brand products with the trademark holder’s trademark before marketing and distributing them.
A trademark identifies the source of a product or service and makes an implicit reference to its quality and brand name, helping to distinguish it from other businesses. In order to maintain quality standards and prevent customer deception, it is strongly recommended for the owner of a trademark licencing agreement to keep a tight relationship with the licensee.
Through a trademark franchising agreement, a business or brand entity’s owner who has already experienced some success in line with the trademark may work with another company (the franchisee), which will contribute its expertise or financial resources to offer the goods or services directly to consumers.
We at IIPRD, helps facilitate the licensing process of Intellectual Property Rights (IPR). Because of IIPRD’s strong and acute focus on IP Commercialization and Licensing Issues and has been a part of numerous Out-Licensing deals, IIPRD provides extensive services, including both In-Licensing & Out-Licensing Studies, which mainly comprises doing a detailed technical and commercial evaluation of the technology vis-a-vis the market potential of the technology, competing products, pricing strategies, potential licensees, the strength of patent protection, coverage and enforceability of the concerned patent among other commercial and technical issues, that help present a Best-Fit Strategy to suit the client’s needs.
We present your invention to manufacturers as a potential source of viable revenue stream. To accomplish this challenge, we create professional, customised marketing materials that invoke a positive first impression and speak to the manufacturers’ primary interest, i.e. how they can make money by licensing your invention.
We provide an immediate and active marketplace that benefits both patent owners and interested licensees. IIPRD can:
At IIPRD, we follow a simple 5 step process for all the IP Licensing / Patent Licensing / IP Monetization / IP Commercialization mandates: