Holders of Intellectual Property (IP) rights have the option to licence these rights for use by other parties. All forms of IP can be licensed, this covers patents, trademarks, design registrations and copyrights.
Licensing does not constitute a transfer of ownership and usually sets out terms under which this IP may be used by the licensees and whether a payment is expected. These payments, also known as royalties, may be recurring or once off and strict timelines will apply.
Licences can be separated by territory, time, or industry type.
Why Licence Your IP?
If you wish to protect and commercialise your IP but do not have the primary means to invest in the manufacturing, production, marketing and distribution, you can opt to licence your IP.
Licensing allows you to still benefit financially from your idea or invention without having to do any of the additional work aside from securing the necessary IP rights. You can also have a scenario where you can commercialise your IP in one territory or industry, while others are licensed for commercialising it in other territories or industries.
It may also support you to reach markets and gain a reputation that you would otherwise have struggled to achieve.
As you can limit the rights and timelines associated with your IP in a licence agreement, this allows you to control your IP and terminate this at a later date in accordance with the licensing agreement. This allows you to continue to benefit from the prior exposure or your IP in any future dealings.
Licensing of IP is something we are exposed to frequently without even realising it. As an example, McDonald’s working with Disney for a new movie release and including Disney figurines in Happy Meals is a form of IP licensing.
Likewise, your favourite clothing store releasing a limited range of sweaters with famous performers' faces on them would also indicate licensing of IP.
Licensing of IP must be conducted properly if you are to protect your rights and to ensure you are not accused of infringing on someone else's. For this reason, engaging an IP Lawyer’s help is highly recommended.
I found them online and initially I was bit hesitant to talk to them about my problem but when I spoke to Barry, I felt more comfortable, and he gave me all the information and advice I wanted without even thinking that I am going to give him business or not. Finally, I went with them, and they made the entire process so smooth and easy for me. john was keeping us updated with each step he was doing. I would recommend these guys for any patent or trademark related service.
I would like to express my thanks to Barry and his team at IP Guardian in Sydney for their assistance with our recent Trademark application. Barry was highly professional, readily available throughout the process and clearly communicated expectations. Barry even helped us refine our application so that we had a greater chance of success which was very much appreciated to avoid extra costs. I would highly recommend Ip Guardian for all your Trademark and Intellectual Property needs.
Barry, last week, you and your professional team, made my year (or probably my next 21 years). So thank you so much for your executive, calm yet very effective actions under extream pressure. Elias Hajjar, Director, TROLLEYON PTY LTD
Informative, understood the business, what it needed and answered questions in a friendly and approachable manner. Easy decision to continue working with IPGuardian for future trademarking
From the day I contacted Barry Meskin until now with my silly amateur questions, he has been nothing short of amazing. I actually NEVER leave reviews anywhere, but I felt the need to do so for Barry and his team. I myself am a tradie, so I felt intimidated speaking to an attorney. But the second I spoke to him on the phone, he made me feel right at home. Never pressured me into any decisions, yet when I decided to go ahead with him, he delivered what I needed much quicker than what I was expecting. I cannot speak highly enough of him and recommend his services 100%.
The team at IP Guardian have made the process extremely straight forward and easy for us to understand exactly what was required. I will highly recommend to our clients who need help with IP.
I have dealt with Barry over the years, his advice and experience has helped me greatly. Looking for to working with him and his team again. Maher.
IP Guardian helps protect words, symbols, letters, numbers, names, signatures, phrases, sounds, shapes and smells. Yes, I said smells.
We've had the pleasure to work closely with Barry for many years. He has been exceptional to deal with and has a keen focus in providing a commercial led IP "go to market" strategy for start-ups and well known brands. Makes it easy and always advises on different ways to navigate through the IP process.
Barry Meskin @ IP Guardian is an experienced and extremely knowledgeable expert in the domain of intellectual property, patents and trademarks. In addition he has been extremely responsive and very professional in all our dealings. I wholeheartedly recommend Barry's services to any business or anyone seeking advice in this area - great quality and great value.
