A license is an agreement to allow another person or company to make, import or sell something that is otherwise protected by an IP right.  Licensing is therefore a very useful way of getting income through royalties, particularly if you do not have the means to exploit your IP to the fullest.  

You may be a new business with no immediate means of funding large scale manufacture, or perhaps one that is expanding into new markets with limited experience of that market.  In many situations, licensing is a useful and effective tool for deriving maximum benefit in partnership with a suitable licensee.  

Whether you are licensing just one form of IP right or, as is often the case, a bundle or rights connected with a product or service, it is important to have a well-prepared written licensing agreement in place.  The agreement, for example, needs to be very clear on what is being licensed, the rights and responsibilities of the parties involved, and what royalties are payable and when.  

Our Team have many years' expertise in preparing and negotiating IP licenses, can advise you of the key considerations involved and will be more than happy to assist you with any queries you may have.