This intellectual property licence template allows an intellectual property (IP) owner to license their copyright and trade mark(s) to another party to use for a defined purpose.
What is an intellectual property licence?
It's a legally binding agreement that grants permission to one party to use the intellectual property of the other party in exchange for a one-off payment and/or royalties. This agreement outlines the terms under which the IP can be used, such as the geographical location, the length of the licence, and the kinds of products or services for which the IP can be used.
The owner of the IP retains the right to control and maintain the quality of the goods or services offered under the licensed IP.
If you intend to assign the copyright or trade mark (i.e. transfer the IP from one owner to a new owner), then our assignment of intellectual property (deed) or would be a more suitable template.
What are the key benefits of Docue's intellectual property licence template?
Effectively licence the IP: Using this template will ensure the intellectual property owner effectively gives permission to the licensee to use the intellectual property on the terms set out in the licence.
Control over the use of the IP: Licensing intellectual property to a licensee gives the owner control over how the intellectual property is used, which helps to ensure that the IP is used in ways that align with the owner of the intellectual property's goals and values.
Monetise your IP: By licensing the intellectual property, the intellectual property owner is opening the door to income-generating opportunities and the potential to earn revenue from its use.
Expansion of brand reach: An intellectual property owner can expand the reach of their brand into new markets and industries by licensing their intellectual property, increasing their exposure and reputation.
Protect both parties: An intellectual property licence contains legal terms that aim to protect both parties. It aims to protect the intellectual property by establishing clear guidelines and terms for their use. This intellectual property licence template also includes pro-licensor or pro-licensee terms which, depending on the party that you select you are, will give you the option to include terms that are more favourable for you as the intellectual property licensor or licensee.
What types of IP does Docue’s intellectual property licence template cover?
Copyright: Copyright is a legal right that gives the holder the exclusive right to reproduce, distribute and display a creative work such as a book, song, movie, photograph or software.
Trade marks: a trade mark is a symbol, word or phrase that identifies and distinguishes the goods or services of a particular business or brand. It's how customers recognise a company. For example, McDonalds' golden "M", Nike’s tick and Apple's "apple" are all registered trade marks.
Docue will ask you a series of questions relating to the type of IP that will be licensed. Each answer that you give will automatically appear in the template - it really is that simple!
For more information about trade marks, copyright and other types of intellectual property, check out this blog.
Other types of IP licence template
This intellectual property licence template should only be used if the parties will be licensing the IP rights in both copyright and trade mark(s).
If you're looking for a template to license just one type of IP, we also have the following templates:
- trade mark licence template; or
- our copyright licence.
When should this intellectual property licence template not be used?
If the intention is to transfer ownership of the intellectual property rather than granting permission for its use, such as in cases of assigning copyright or trade marks to a new owner, this template will not be appropriate. Where a complete transfer of IP ownership is intended, a template for the assignment of intellectual property would be suitable. Our templates for the assignment of intellectual property can be found below:
- for an assignment of copyright, use our copyright assignment deed
- for an assignment of trade marks, use our trade mark assignment deed
- for an assignment of a patent, use our patent assignment deed
- if you will be assigning multiple types of IP, use our IP assignment deed
What are the key terms in Docue's intellectual property licence template?
Key terms: This intellectual property licence template includes the following key provisions:
- Key details relating to the intellectual property (e.g. the term, scope, territory, branding guidelines, etc);
- Grant of rights;
- Moral rights (where copyright is being licensed);
- Warranties;
- Price and payment (you can choose if the payment will consist of a one-off payment, royalties or both);
- Indemnity;
- Limitation of liability; and
- Termination.
How does this intellectual property licence template deal with payment of the licence?
When it comes to licensing intellectual property, the payment terms can vary depending on the agreement between the parties involved. Our intellectual property licence template offers flexibility in payment terms, allowing for a one-off payment, royalties, or a combination of both. This means that the licensor can receive a lump sum payment upfront, ongoing payments based on usage or sales, or a combination of both. The payment terms can be customised to suit the needs of the licensor and the licensee, ensuring that both parties are satisfied with the agreement.
This template provides for the licence of intellectual property under English law and can be used by businesses or individuals.
Why use Docue?
Easy to use: Docue’s platform allows you to access and customise a lawyer-made intellectual property licence agreement template at the click of a button. With Docue’s ultra-modern contract drafting technology, you can complete the document and send it for signature in minutes. Our template bank of 150+ lawyer-drafted templates covers a wide range of business scenarios to suit your needs.
Favourable terms: This intellectual property licence agreement template includes model clauses that are pro-licensee or pro-licensor depending on which party you are to the contract. It also includes guidance prepared by our lawyers that supports you through the drafting process with cost-effective pricing.
Safe: Once you have created an agreement that is tailored to your business needs, you can send the contract to each of the parties for e-signing. After it's signed, you can store the agreement in Docue’s storage vault, Docue Drive, to ensure you always have quick and easy access to your contracts in one place.
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Tags: intellectual property licence template, licence agreement, IP licensing, right to use, licensor, licensee, grant of use, IP licensing
