How can you protect your technology when licensing it?

Before licensing your intellectual property, properly register your ideas or creations to establish legal protection. Patents, trademarks, copyrights, industrial designs, etc. safeguard different forms of IP. Patents protect novel inventions; trademarks distinguish brands and logos; copyrights cover artistic and literary works. Registration gives you control over your IP and the ability to permit others to use it through licensing deals. Once registered, you can negotiate royalty-based licensing contracts allowing third parties to utilize your protected IP in mutually beneficial ways, while you maintain control over commercialization. Solid registration enables advantageous licensing agreements.

Key considerations while drafting your license agreement are as follows: 1. exclusivity terms, territory/field of use, and term of license. 2. payment amount and structure (lump sum, royalties, fees, etc.) and payment schedules. 3. licensee reporting requirements and audit rights to verify revenue/royalty calculations. 4. protections like confidentiality, non-disclosure, and non-compete clauses. 5. Define ownership of derivative works and improvements. 6. Specify termination conditions and outline responsibilities regarding litigation from IP infringement claims. 7. Cover warranties, indemnification, and limitations of liability.

Once your IP licensing contract is signed, stay involved to ensure proper usage of your IP by the licensee. Monitor their activities to confirm they are acting within the agreed upon scope and terms. Regularly audit sales and royalty reports to verify accurate revenue and payment calculations as outlined in the agreement. Watch for IP misuse or activities that could weaken your IP rights. Enforce confidentiality, non-disclosure, exclusivity and non-compete clauses as applicable. Keep communicating with the licensee and address any issues promptly to maintain a productive relationship. Consider if amendments are needed to adjust terms over time. This oversight after signing preserves the value of your intellectual property assets.