- Posted by MatadorAdmin
- On December 12, 2018
Patent Attorney Chicago, IL
Do you have a solidified idea or great invention? If so, you could generate profit on it; however, before you begin to pursue financial rewards for your creation it is very important that you seek commercial protection.
Lawyers have helped numerous people register and secure their intellectual property, and also guide them through the entire licensing process to ensure their idea or invention is properly documented. If you’re interested in learning more now, we encourage you to call a lawyer as soon as possible.
How an Intellectual Property Lawyer Can Help You
Intellectual property lawyers are often a form of business lawyer who provides a broad range of services, such as:
- Researching and filing for intellectual property types
- Drawing up confidentiality agreements
- Drafting licensing agreements
- Drafting contracts
- Reviewing agreements and contracts
- Negotiating agreements and contracts
- Arbitrating or litigating a breach or infringement
- Providing counsel on prospective business relationships
- Advising you of your situation
- Protecting your intellectual property rights
The intellectual property lawyers of our firm has decades of experience in law and also understand the many complexities that can, and often do, arise. This knowledge sets us apart from other firms and general lawyers and can be invaluable to you and your intellectual property.
Understanding Licensing Agreements
A licensing agreement can be made for any type of intellectual property. It is a contract between you, the licensor, and another party, the licensee, which grants the later party to use all or some of the intellectual property. In return of you granting this permission, the licensee may give you royalties or a sum of money that has been agreed to and laid out within the licensing agreement.
The benefits of licensing your intellectual property are broad; however, before you agree to anything, it is important to make sure every detail and potential outcome has been considered. Once this has been completed, you may benefit from:
- Avoiding high costs of manufacturing or distribution
- Release your product to the public in a timely manner
- Reduce your risks against potential losses
- Get the most out of your idea or invention
Tips to Consider About Your Licensing Agreement
If you are the licensor of IP, you should seek a licensing agreement that gives you results now and in the future. The worst thing you could do is to make a knee-jerk reaction without the help of a lawyer, and ultimately lose out on royalties and benefits. Tips that can encourage you to make the right decisions are as follows:
- Do not underestimate the investment needed
- Do not undervalue your creation or idea
- Keep in mind that your creation or idea is yours; this can give you leverage
- Do not sell your product in any unauthorized channel
- Find someone who understands your goals
An Intellectual Property Lawyer
Whether you have a registered trademark, copyright, or patent, or are in the early stages of the IP process, lawyers can guide you through each step of the way. To discuss your needs, or to learn more about licensing agreements, call a patent attorney Chicago, IL trusts at The Law Offices of Konrad Sherinian, LLC now.