Commercialisation
If you are buying, selling, developing for others, licensing, accessing or disclosing intellectual property then you are commercialising intellectual property.
The goal for IP creators and innovators is to commercialise IP for a licence fee, royalty or sale price to recover the cost of development at a minimum. But it could be so much more. Commercialising IP can lead to multiple sustainable revenue streams for IP owners. To support this return, IP owners need to maintain control over the commercialisation through written agreements or contracts.
Why are written agreements or contacts necessary? Some IP rights cannot be sold without a written agreement so if you are purchasing IP this is vitally important. If IP rights are being created then outlining who will own the IP will be critical as paying for the creation of IP is not enough to claim ownership. Where an IP owner wants to licence its IP on a grand scale, placing access restrictions and quality controls on each licensee is essential. Contracts will also give IP owners peace of mind by minimising risks when commercialising.
Intellectual property rights can be commercialised in an array of agreements including:
- licensing agreements including software;
- supply and distribution agreements;
- manufacturing agreements;
- service or contractor agreements;
- sponsorship agreements;
- marketing agreements;
- sale and shareholder agreements;
- employment agreements
- confidentiality agreements;
- research and development agreements;
- material transfer agreements;
- project agreements/joint venture agreements;
- terms of trade;
- website terms of use; and
- franchising agreements.
At Sladen Legal, we support our clients through the entire commercialisation process so that their rights are best protected and revenue generation is maximised. From assessing IP protection and structuring the project, through to drafting and negotiating contacts and then following up any resulting compliance requirements.
Three stages of IP creation