- 11th Jun 2018
- Posted by: Barnard Inc
- Categories: Articles, Uncategorised
Commercialising your IP
The intellectual property (IP) of a person or a company is, in most cases, the most valued asset of that person or company. So much so, that well-established IP rights can be provided as security to financial institutions to obtain loans or form part of negotiations in large corporate considerations.
Obtaining a patent for an invention; a trade mark for a brand name; a design right for a new design or even having copyright subsist in works created is merely the first step in protecting and enjoying your IP.
The next phase in the successful exploitation of your IP is the commercialisation thereof. There are a multitude of ways how your IP can be commercialised to produce maximum profit, i.e., licensing, distribution, cessions, assignments, manufacturing, profit-sharing etc.
Therefore, it is important to have your IP be managed correctly from the start by qualified professionals with sufficient experience.
IP LICENSING & FRANCHISING
One of the most powerful ways to maximise the efficiency of your IP is by licensing your IP rights to third parties. All forms of IP (Patents, Designs, Trademarks, Copyright and Confidential Information) can be licensed to third parties in the form of a licensing or a franchising agreement.
In a licensing agreement, the owner of the right (the licensor) authorises a third party (the licensee) to utilise the rights in exchange for a fee or a royalty. The licensing of IP is the most common method of commercialisation.
Franchising agreements are specialised licensing agreements used to expand an existing brand or product and usually incorporates the use of Trademarks, Copyright and/or Know-how.
The terms of licensing agreements are open for negotiation between the parties. Barnard Incorporated Attorneys specialises in commercial law and have combined their field of expertise with that of IP.
With qualified and experienced individuals at Barnard Incorporated Attorneys your IP can be successfully managed with maximum efficiency to ensure that you extract the full potential of your IP.