When drafting and signing agreements regarding licensing or claims against intellectual property, there are a number of elements that must be considered to ensure the right measures are being taken. A recent Supply Management report explores best practice tips to protecting your intellectual property when licensing. Here is a breakdown of the top seven guidelines.
Be specific. Trademark licenses can be complicated since they include the ability to grant limited rights to the appropriate parties. Therefore, the language used in trademark agreements needs to be very precise and detail who and what those rights entail. Enlisting in the help of your legal team will ensure that you are not leaving any important details out and are always protected against future claims.