Legally authorize the use of intellectual property while protecting ownership rights and defining usage terms, royalties, and limitations.
A Business Partnership Agreement is a legal contract between two or more individuals or entities who wish to run a business together and share profits. It outlines the terms of the relationship, including ownership stakes, capital contributions, profit and loss distribution, dispute resolution mechanisms, decision-making protocols, and exit strategies. This agreement minimizes conflicts and provides clarity to all partners.
A thorough Licensing Agreement typically covers:
Licensing Agreement are governed by various laws, including:
Licensing gives permission to use the IP without transferring ownership, while assignment transfers full ownership permanently.
For some IP (like trademarks or patents), it is recommended to record the license with the respective authority.
Yes. You can choose between exclusive, non-exclusive, or sole licenses depending on your business strategy.
Absolutely. You can define territorial boundaries and duration in the agreement.
While technically possible, it is risky and often unenforceable. A written Licensing Agreement is always recommended.