🧑‍⚖️ IP license agreement

About this category

A license agreement is a legally binding contract between two parties, in which one party grants the other party the right to use their intellectual property. The agreement sets out the terms and conditions of the license, including how the intellectual property can be used and for what purpose.

Note: Working on a legal issue? Try our AI Legal Assistant - It's free while in beta 🚀

Use our legal assistant

🧑‍⚖️ IP license agreement

templates

IP Rights Licence Between Group Companies

This legal template establishes an intellectual property (IP) rights license agreement between group companies operating under the jurisdiction of UK law. The template outlines the terms and conditions under which one group company grants the other group company a license to use its intellectual property assets.

The template begins by defining the participating group companies and providing a clear description of the intellectual property being licensed. These IP assets may include patents, trademarks, copyrights, trade secrets, or any other form of protected intellectual property.

The agreement sets out the scope of the license, specifying the territories and the duration of the license. It outlines the rights granted to the licensee, including the right to use, modify, market, sell, and distribute the intellectual property within the agreed-upon territories.

Additionally, the template addresses the obligations of both parties, including any restrictions on the use of the licensed IP. It may stipulate that the licensee must maintain the confidentiality of trade secrets or other sensitive information. It may also outline quality control measures or other standards that the licensee must adhere to in order to maintain the integrity of the licensed IP.

Furthermore, the agreement may address issues related to royalties or financial considerations for the license. This can include the payment structure, reporting requirements, and any revenue-sharing arrangements.

The template also covers termination clauses, governing the circumstances under which the license may be terminated by either party. It may include provisions for termination in the event of a breach of obligations, bankruptcy, or other specified scenarios. Additionally, it may outline the process for dispute resolution, such as arbitration or mediation, in case of any disagreements.

Overall, this legal template serves as a comprehensive framework for establishing an IP rights license agreement between group companies, ensuring clarity and protection of intellectual property assets under the laws of the UK.
Contract template sketch
3
An outline stencil of a pencil to represent the number of uses this contract template has had.
3
Share icon, to represent the number of times this template has been shared by Genie AI users
2

Associated business activities

License IP

There are many reasons why someone might want to license IP. For example, they may want to use a IP license agreement to protect their invention from being copied or to make sure that they are the only ones who can use it. Additionally, licensing IP can help generate revenue for the owner of the IP, or help to keep a trade secret secret.