Why License Your Intellectual Property?
When you license your intellectual property correctly it is an opportunity for both you and the licensee benefit financially. Licensing represents a way to move your brand into new businesses areas and maximize your brand’s visibility without making a significant capital investment in additional staff, manufacturing facilities, offices, etc. Or it can be a way to finance a television series or movie (for example, by selling the rights to the master toy license before production of a children’s series.) The intellectual property owner enjoys the benefit of the payment of royalties and expansion into new categories of merchandise or services. The Law Offices of Angela Small Booth works with licensors, licensees, and licensing agents in all aspects of licensing. We write licensing agreements in plain English so the parties have a clear understanding of their respective rights and obligations.
Ownership of Rights to be Licensed – Due Diligence
Every license agreement is based upon the premise that the licensor owns the rights to be licensed. That includes any copyright in images to be licensed, and trademarks in names, and patent rights in technology. The licensor will generally be required to make representations and warranties in the license agreement as to its ownership of rights, and to indemnify the licensee against any claims concerning ownership of the rights including attorneys fees. That means, if a law suit is filed alleging infringement, the licensor is responsible for handling the lawsuit including paying any damages awarded.
Rights clearance prior to entering into a license agreement in all of the territories licensed is essential. Errors and omissions insurance is also advised. We can assist with these matters to minimize liability.
We’ll be at the Licensing Expo in Las Vegas June 18 – 20, 2013. Please contact us if you would like to set up a confidential and free meeting.
Contact the Law Offices of Angela Small Booth
Call The Law Offices of Angela Small Booth at 310.497.1351 or 805.765.5413
or contact us online to schedule your free and confidential initial consultation.
Serving the greater Southern California area
including Irvine, Los Angeles, Ventura, Santa Barbara and Kern Counties