Once an inventor or business has filed for or obtained intellectual property protection, they are often left with the question of “what now?” For many, the “what now” equates to “how do I make money” from intellectual property. There are many options available to inventors and businesses alike to assist in commercializing intellectual property.
A non-disclosure agreement is an agreement between at least two parties that outlines confidential material and information that the parties wish to share with one another for certain purposes but wish to restrict access to or by third parties. A license is an agreement that enables the owner of intellectual property to make money from an invention or work by charging a fee, typically a royalty, for product use by a third party. An assignment is an agreement that transfers some portion of the ownership interests in intellectual property rights, traditionally in return for a monetary payment.
The above non-limiting examples illustrate the vast differences in the agreements that abound in the intellectual property field. Gearhart Law has the experience and expertise to not only draft such agreements, but to review and red-line agreements received by our clients from third parties to best ensure our clients’ needs come first.