Frequently Asked Questions
The best way to safeguard your intellectual property is by licencing. Owners of intellectual property can provide permission to other parties to use, modify, or resell the work for a mutually agreed-upon fee through a licencing arrangement without giving up ownership of the product. The agreement’s parameters are adaptable and may be changed to reflect the parties’ mutual understanding.
A well-written licencing agreement aids the creator/owner of the IP rights in preventing infringement and utilisation of those rights. In the event of such infringement, it may also be used as evidence in court.
The fundamental distinction between the two is that whereas an Assignment conveys all of the Assignor’s rights to their IP and assigns it to the Assignee, a Licence permits the Licensor to retain their rights and interest in their IP.