An Introduction to Obtaining a Licence to Develop a Third Party's Product
- Price: £3.60
- Published: July 2013
- Type: Business Information Factsheet
- Format: PDF
Licence agreements are used to exploit ownership of intellectual property (IP) and related rights. From the licensee's point of view, licensing is a convenient way to use rights developed by a third party without having to carry out costly research and development. Instead, you can apply your expertise and resources to exploit a potential market for that product or service, which the licensor may be unable to do.
This factsheet outlines the process of acquiring a licence to produce or distribute products or services owned or developed by another business. It also examines the typical procedures used to obtain a licence, suggests some of the most important aspects to consider when entering into a licensing agreement, and lists hints and tips and sources of further information.