What are the key elements to remember in a licensing agreement?
• Before you grant rights, you need to know which rights you have and what you can do with them; • Never enter into a long term contract unless there really good reasons to do so in order to provide cover in case circumstances change; • Non-exclusive agreements will give you the freedom to enter into similar agreements, whilst exclusive agreements will restrict you; • Retain quality control and rights of veto over the final product/use.
