A License Is a Legal Agreement That Grants Rights to Use a Particular Piece of Intellectual Property

The terms of these licenses must be negotiated in good faith and agreed between the university and the sponsor. For copyrights and patents in many other countries, the ability to license without liability or authorization from the other party may be limited. There are four main types of intellectual property protection, which are discussed below. Work with an experienced intellectual property lawyer to learn more about the steps you need to take to ensure the necessary protection of your intellectual property. For certain types of products, such as pharmaceuticals. B, a wide range of applications can be crucial to commercial success. For example, commercialization success may ultimately depend on the subsequent discovery of a new medical use of a compound that was not considered to have commercial value in the initial negotiations. Alternatively, a drug may have multiple uses that together make the product cost-effective enough to warrant conducting the research. The proponent may not be willing to allocate resources to a subset of potential applications. At the very least, the proponent is likely to feel that competitors should not benefit from the research it sponsors at the expense of the proponent. You can also combine elements of these three types of intellectual property agreements, for example .B. by granting an intellectual property license for exclusive rights in specific geographical areas. You can view a model patent license agreement in the Priori Document and Form Training Center.

You can also learn more about software licenses here. The right of first refusal may be acceptable to a university if it depends on the proponent negotiating a licence agreement in good faith during the period of negotiation of the option. The right of first refusal can provide the additional convenience a sponsor needs to justify investment in research. However, some universities are reluctant not to accept the right of first refusal under any circumstances, as the practical effect may be to impede the university`s ability to interest a third party in a bachelor`s degree. The Sponsor, for its part, may consider that in the absence of license conditions detailed in the research and option agreement, a right of first refusal is required to reduce the risk that the University will prematurely enter into negotiations with a third party. Contract language for “Scope of Use Provisions” – [See the language of the agreement for the option to license and license on pages 7 or 8, where the fields of use can be specified.] 9. Clauses specific to intellectual property rights. Certain clauses specific to the type of intellectual property rights licensed in the license agreement, either to ensure that the requirements of applicable laws are met, or to ensure that the rights of the owner of the intellectual property are adequately protected, or both. For example, Canada`s Trade-marks Act (which was significantly amended in June 2019) is the law that governs Canada`s system of trademark ownership and protection, including the licensing of trademarks to third parties.

If the license agreement involves the granting of the right to use, advertise or display a trademark, in order to comply with the law and ensure the protection of the rights of the owner of the intellectual property, it is crucial to include clauses that deal with the continuous control of the owner of the intellectual property over the character and quality of the products and services associated with the licensed trademark. This includes the right of the intellectual property owner to inspect such products and services to ensure that they have a character or quality required by the intellectual property owner and defined in the license agreement. License agreements describe the terms under which one party may use another party`s property. While the properties in question may include a variety of elements, including real estate and personal effects, licensing agreements are most often used for intellectual property such as patents and trademarks, as well as copyrights for written materials and visual arts. Licensing agreements are often used for the commercialization of technologies. We can also help your company take action if you believe another party has infringed your intellectual property rights. In addition, the introduction of intellectual property rights can help stimulate the economy and further stimulate innovation. Exclusive licensing is particularly important in some industries, such as pharmaceuticals, biotechnology, and chemicals, while it may not be as important for others, such as electronics and automotive. However, once you get your IP rights, sometimes it`s more convenient or useful to have them used by someone else for a fee, which is why there are IP agreements and IP contracts. These documents are complex agreements that specify how third parties may use your intellectual property.

IP agreements and IP contracts require careful negotiations, and IP owners should conduct these negotiations with the help of an experienced IP lawyer. With Priori, you can contact a certified lawyer who can help you draft and negotiate an intellectual property agreement or contract. In many cases, the university and the sponsor are reluctant to negotiate a full license under the research agreement because it takes time. .