What Is A Primary Benefit Of A Licensing Agreement For The Licensor
The next question is: which of the following strategic alliances? One of the drawbacks of strategic alliances is sharing: in a strategic alliance, partners must share resources and benefits, and often skills and know-how. Agreements can protect these secrets, but the partner may not be willing to abide by such an agreement. (iii) The licensee may require contributions such as technical assistance, staff training, etc., and there may be additional inconveniences for the licensee, With licensing, you essentially sell your intellectual property, your ideas. Before entering into an agreement, you should first check whether your product can be protected by a patent – and register with the U.S. Patent and Trademark Office. There are different types of patents, most often useful and design – the first specific to the functional aspect of your product, and the second on the aesthetic aspect or design. A patent protects you by ensuring that others cannot make, use or sell your invention without penalty (Purvis, n.d.). Licensing categories often overlap and are not mutually exclusive. Most importantly, the agreement should include the description of the product or sublicensing service, the issuance of a licence for the use of intellectual property or assets, the obligations of both parties and, most importantly, the agreement of financial agreements, both minimum payments and royalties for sales, as well as the minimum sales objective and the schedule (“All types of contracts of” license. In addition to the details of all parties involved, the licensing agreements define in detail how licensed parties can use real estate, including the following parameters: Like international licensing, international franchising has certain advantages and disadvantages.
The main advantages of international franchising are licensing agreements that can also be entered into in the form of trademark agreements, copyright materials, technology licenses and trade secrets. Licensing agreements and agreements must be beneficial to both parties. The licensee grants the right to use a piece or property and the taker brings his knowledge of the industry concerned. The result is a relationship akin to a partnership or joint venture. WIPO document, licensing of intellectual property assets; Pros and cons, available from (most recently called 10.01.2016) Christian, Glynna K. “Joint Ventures: Understanding licensing issues.” The licensing newspaper.