An international corporate lawyer with over 25 years’ experience in mergers and acquisitions, joint ventures, and intellectual property and technology licensing, Dyan Gershman is the founder of Gershman Law, PLLC, a boutique corporate law firm based in New York City. Dyan Gershman represents many companies, large and small, in drafting and negotiating their license agreements.
A license agreement is a legal contract between two parties in which one party grants the other party rights to use its intellectual property or technology for a specified purpose, which may be to manufacture a product or use the intellectual property or technology for another purpose. The party granting rights is the licensor, and the party benefiting from these rights is the licensee. A license agreement typically is used when a licensor has intellectual property ownership of a brand, product, business process, technology or software and would like to license its use to another party in exchange for licensing fees or royalty payments. The license agreement lays out the contractual terms and conditions of the licensing relationship. Some of the terms of the agreement are: - the geographical area in which the licensee can use the licensor’s property, - the period in which the licensee has rights, and renewal options, - exclusivity of the license rights, - acceptable uses of the intellectual property, and any restrictions, and - fees or royalty payments. Other terms in a license agreement may include dispute resolution, nondisclosure of trade secrets, quality control, and warranties.
0 Comments
|
AuthorDyan Gershman, Founder and Partner of Gershman Law, PLLC. Archives
April 2022
Categories
All
|