What is technology licensing?
Technology licensing is a contractual arrangement in which the licensor’s intellectual property rights: patents, trademarks, copyrights, trade secrets, or other intellectual property may be sold or made available to a licensee for compensation. Such compensation may be a lump sum, based on volume of production, or a combination of both.
Should you consult an attorney about licensing technology?
Yes – because of the potential complexity of technology licensing agreements, you should seek the legal advice of an attorney before entering into such an agreement.