IP licensing system of RSG media

IP Licensing System

IP Licensing System

Summary

Intellectual Property (“IP”) Licensing introduces intangible rights in a work, capable of
being licensed by the owner for use by another party for personal or economic reasons.
IP Licensing is usually done in exchange for valuable consideration referred to as
licensing fees or royalties. Thus, IP Licensing System refers to the various categories
and methods by which IP rights can be licensed for use.

Dictionary

Intellectual Property (“IP”) Licensing System refers to various agreements by which a
party other than the IP rights owner may be authorized under the signed agreement to
use a work that is protected by IP Laws.

In an IP Licensing System, the IP rights owner is referred to as the “Licensor” while the
authorized party is called the “Licensee”. The agreement between both parties is usually
referred to as “Licensing Agreement” or “Agreement” or “License” or any term the
parties may choose to adopt for their convenience.

There are different licensing systems available for IP Rights holders. These include:

  • Patent Licensing
  • Trademark Licensing
  • Copyright License
  • Trade Secrets/Confidential Information
  • Industrial Design License

An IP Licensing System will depend on the nature of IP rights. IP rights under
technology inventions are usually classified under Patent Licensing.

An ideal IP Licensing System will cover the identity of the parties, their rights and
obligations under the licensing agreement, the nature of rights being assigned, the
terms and conditions of use (duration of use, the extent of use, the royalties payable,
terms of revocation of license), privacy policy, and any other sub-agreement deemed fit
by the parties.

IP Licensing systems can be managed by the rights owner or his agent or a third-party
organization to enforce compliance with the agreement.

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