Here at Peacock Law, one of the questions we receive most often from clients is how they will be paid by a licensing agreement. The short answer to that question of how one will get paid is that it depends.
Your intellectual property licensing arrangement is one of the most important decisions you will make concerning your business. The first big question about the licensing deal is whether it will be exclusive or non-exclusive.
If your family has a treasured secret recipe that has been handed down for generations, you already understand the basics of a trade secret. In legal terms, a trade secret pertains to information that derives independent economic value from not being generally known to and not being readily ascertainable by proper means by others.
Your company has worked hard to develop its intellectual property. It is understandable that you would want to protect it. But you want to accomplish that goal while retaining the ability to monetize your intellectual property and reap the financial benefits you’ve earned from your efforts.
Peacock Law is often at the forefront of disruptive technologies. One such technology is blockchain, which with proper intellectual property strategy, can generate incredible value. Who knows how this technology will change the world.