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Assigning and Licensing

Assigning your IP rights means to transfer your IP ownerships to another person. Once you assign your IP rights, you can no longer control the IP; the assignee will have this control. In contrast, a licensing transfers the IP rights from the licensor to the licensee in a specified manner for a specified time in a specified region. The licensor continues to owns the IP rights and maintain control.

 

Licensing IP rights

When you license your IP rights, a licensee is allowed to make, use and sell products and services based on them. In return, the licensee should pay royalties to you based on the agreement. There are a number of different types of licenses that you can grant:

● Non-exclusive license can be granted to many licensees in order to spread the risks and rewards. The licensor can maintain a better control over IP rights.
● Exclusive license gives the licensee the exclusive right to exploit your IP rights, which even excludes the rights of the licensor in the territory.
●Sole license is a kind of an exclusive license, You as well as the licensee retain the right to use your IP, but no one else can.
 

Licensing Agreement

Your licensing agreement should cover the followings:

● Territories the agreement covers
● Royalties you can earn and when are paid
● Licensor and Licensee Obligations to maximize the potential of IP and to solve
disputes to arise during the agreement
● Expiration and Termination to come to an end the licensing agreement