Licensing Agreements
There is no denying the impact of technology on small businesses on both sides of the equation. On the one hand, with all of the technology tools now available to small businesses, it’s easier than ever to succeed. On the other, the technology industry has given us a boom of small businesses whose ideas can be put into action by just a few. A good small business attorney in Rancho Bernardo can help you to navigate all the concerns (and contracts) of a changing marketplace.
What is a licensing agreement? Most people’s first thought is of the exhaustive list of legalese that you have to read while installing necessary programs. The short definition of a licensing agreement is that it is an agreement between two parties that one party can use the other’s intellectual property, including visual art, photographs, computer programs, brand name, business model, and so on. This agreement lays out the valid terms of the agreement, such as how much time the product can be used for or who can use the license that has been purchased. In our computer program example, a common limitation to a licensing agreement is that you and only 5 other people in your household can use the program you purchased.
Most licensing agreements that a consumer interacts with are made for the mass market, as in the example above. However, as a small business owner, licensing agreements also work to protect your business and intellectual property. A good small business attorney in Rancho Bernardo can help to create a contract that fits your needs. The advantages to licensing your intellectual property include:
- Retaining ownership of your intellectual property.
- Licensing products to provide a steady stream of income.
- Determining how your intellectual property is used and by whom (or how much)
- Terminating the license in certain situations, which are included in your licensing agreement.
- Reducing the risk that your intellectual property is reduced.
- Transferring rights is easier to reverse.
- Reducing the infringement on your intellectual property rights by providing a legal avenue to access your property.
The Law Offices of Steven Brian Davis have over thirty years of experience as a small business attorney in Rancho Bernardo. Our small business focuses on your small business – we pride ourselves on maintaining personal relationships to ensure that our clients’ needs are met. Should you need a business attorney in Rancho Bernardo, feel free to contact us.
Call The Law Offices Of Steven Brian Davis today: (858) 451-1004
