Licensing your intellectual property is the legal framework to allow your IP to work for you and earn revenue. However, there are many steps along the way that will involve protecting your IP from potential licensees who try to erode its value and others who may try to use your IP without permission and without paying you royalties.
You have to be educated about your rights, keep thorough records, and be ready to enforce your rights from the outset. Once we have helped you register a trademark, copyright, or patent, it will not be smooth sailing from there without our guidance and representation.
Where Should You Start With Licensing Your IP?
Each step in the processes necessary to protect your IP, license it, and enforce your rights should involve experienced legal guidance, representation, and documentation.
- Register your IP as soon as possible.
- Maintain complete licensing agreement files in one location.
- Make agreements understanding the circumstances with licensees are likely to change, and agreements will likely require modifications as relationships continue.
- Be willing to negotiate deals based on differing priorities and capabilities among licensees.
- Define the parameters of your agreements clearly and identify what is most important to your business.
- Be cautious when a potential licensee brings up exclusivity.
- Monitor related companies and industries for use of your invention or creation.
- Take steps to protect your full ownership rights.
Shaping and managing your agreements and developing a comprehensive system to monitor the marketplace are vitally important. Violators of trademarks, copyrights, and patents often attempt to stay under the IP owner's radar for as long as possible in order to profit as much as possible before being discovered.
When reasons for disputes arise, you want to be sure you have full documentation of your IP registrations and licensing agreements. You also want to be able to protect your related trade secrets with complete nondisclosure and noncompete agreements.
Thorough documentation of all your IP is critical for your exit strategy as well. Potential buyers of your IP or business will better be able to value your assets when complete and accurate files are available.
Speak With Our IP Lawyers In Orange County
With offices in Irvine, we serve individual IP holders and companies throughout Southern California and across the U.S. Our lawyers bring a combined 40 years of experience to your legal matters and diligence that is unsurpassed.
Please call our firm at 888-415-4373 or email us securely to schedule a meeting with one of our attorneys at your convenience.
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