IP Licence Agreement
This do-it-yourself document generator helps you create a customised IP Licence Agreement that protects your intellectual property as it is made available for commercial use.
It covers the licence of a plethora of IP rights - inventions, designs, registered trademarks, unregistered trademarks, registered business names, domain names, social media accounts, other online accounts, software, copyright, plant-breeder rights, circuit layouts, trade secrets, chemical formulations or other form of existing IP .
How does it work?
Our intuitive tool will guide you through the process step-by-step from start to finish. It’s quick, easy and simple to understand – just how legal documents ought to be.
The expert interview wizard will help you answer a few questions and prepare your document in the background. You’ll have your custom IP Licence Agreement in 15 minutes or less.
When you’re done, print or download a PDF version for you to review, customise or sign.
What is an IP Licence Agreement?
An IP Licence Agreement sets out the commercial and contractual terms between the owner of intellectual property and its users.
It protects the owner by clearly establishing the allowances and limitations of the use/license of the intellectual property, so you have peace of mind that your rights are protected as you commercialise your work.
Our document generator helps you create a tailored agreement, that comprehensively covers all the legal bases of an Intellectual Property Licence Agreement.
When should I use an IP Licence Agreement?
An IP Licence Agreement should be used when you intend to commercialize your work. It defines how others are allowed to use your work in a commercial setting, while at the same time protecting your intellectual property against misuse by third parties.
It can be used whenever any owner or creator of intellectual property wishes to commercialise their IP rights, including writers, artists, researchers, designers, inventors and others.
What topics does an IP Licence Agreement cover?
- Number of Licensors and Licensees
- Details of the Licensors and Licensees
- The types of IP rights being licensed (Inventions, Designs, Registered Trademarks, Unregistered Trademarks, Registered Business Names, Domain Names, Online Accounts, Software, Copyrights, Plant-breeder rights, Circuit Layouts)
- Ownership of IP
- Type of License
- Scope of License
- Duration of License
- License Fees
- Assignment and Sub-Licensing
- IP Ownership Claims
- Completion Date, Time, and Location
- Indemnity – Licensor to Licensee
- Indemnity – Licensee to Licensor
- Responsibility for Costs
- Governing Law
- Boilerplate language
What are the main decisions I need to make in creating an IP Licence Agreement?
- What type of license are you granting? You can choose between an exclusive, sole or non-exclusive license. These terms are defined within the tool.
- What is the duration of the licence?
- Do you want to provide for any geographical restrictions, or restrictions in relation to particular products or industries?
- Do you want to include a royalty or license fees as consideration for the grant of the license? How will it be structured?
- Will you allow assignment and sub-licensing?
- Do you want to include a clause giving the licensor control over IP ownership claims?
- Do you want to make this transaction conditional upon any other transactions occurring?
- Do you want to include basic warranties?
- Do you want to include any indemnity clauses?
What other names does an IP Licence Agreement go by?
An IP Licence Agreement is also known as:
- Intellectual Property Licence Agreement
- Intellectual Property License Agreement
- Intellectual Property Licensing Agreement
- IP Licensing Agreement
- Trademark License Agreement
- Copywright License Agreement
- Patent License Agreement
- Design License Agreement
Frequently Asked Questions
The parties involved are the owner/s of the intellectual property (the Licensor) and the intended ‘Licensee’ of the intellectual property.
Generally you would need this document when you plan to let others use your work without giving them full ownership rights to it.
Sure can. You can name up to five Licensors or Licensees. But typically these deals involve only a single licensor and licensee.
Anything and everything! Common IP types are listed below. If it’s not any of those, you can describe the specific intellectual property you intend to license.
- Registered Trademarks
- Unregistered Trademarks
- Registered Business Name
- Domain Names
- Online Accounts
- Plant-breeder rights
- Circuit Layouts
This document includes several options:
- fixed lump sum fee;
- ongoing fixed fees; or
- royalties based on net sales/revenues
You can also select payment timing mechanisms or frequencies, and whether payments are in advance or arrears. For royalties, it is expected that the licensee provides notice of the sales revenue to the licensor and the licensor then invoices the licensee
- Details of the Licensor and Licensee
- The IP rights that are being licensed
- Details regarding all the IP rights being licensed
- Type of License
- Scope of License
- How the licensor wants to allow assignment and sub-licensing.
- Conditionality terms
- Completion date, time, and location
- General Costs and Stamp Duty
There are several signing options available. How you sign largely depends on where the parties are located and if they will attend signing together. You can print on paper and sign, or use electronic signature tools such as Docusign or Hellosign.
If you need any assistance please contact us directly, we would be happy to assist.
If you have any questions or are uncertain about any aspect of the document we do not recommend that you sign it or use it.
Please contact us directly and we would be happy to assist.
Absolutely! Get in touch with us and we can provide a fixed-fee price to review it.
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