There are four types of licensing viz. in-licensing, out-licensing (spin off), licensing through merger and cross-licensing.
* In-licensing means purchase or acquisition of intellectual property license from external business entity
* Out-licensing means selling the license or part of it to external organisation. Spinning-off a new IP from an existing IP can also be out-licensed.
* Licensing through merger means that when merger and acquisition takes place between two organisation which has complementary IP.
* Cross-licensing takes place between two organisation when they decide to share each other's IP for mutual benefits
Benefits: For licensors, the benefits of licensing can include:
* lower costs and resource demands when entering new markets * lower risks (e.g. of production etc) * higher and more rapid sales through the use of a licensee’s established sales and distribution networks * guaranteed minimum sales in some cases * Solve situation of infringement
For licensees, the benefits of licensing can include: * being able to use intellectual property manufacture which may otherwise be prevented from doing otherwise * avoiding the need to engage in research and development or product improvement Why choose ITAG Business Solutions Ltd for IP Licensing?
* ITAG has many years of experience drafting and negotiating all types of agreements used to define the rights and obligations of the parties, and allocate risk, in virtually all fields and industries. * We are available to consult with you if you are interested in licensing. * Our experienced attorneys can draft a licensing agreement that is favorable to you and your financial interests, and will allow you to reap the benefits of your IP or the property of the other party.