CHAPTER 1
Understanding Licensing
1.1 Introduction
If you have ideas, concepts, works of art, literary works, music, inventions, designs, processes, methods, or brands, you have Intellectual Property (IP). You can sell it; license usage rights; or fund, market, and distribute it yourself. It is even possible to license ideas to a few companies.
IP is an intangible property created in someone’s mind. It has value just like real property and fits in two categories: Hard Rights include protected property like patents, trademarks, and copyrights, and Soft Rights include unprotected property like trade secrets, know-how, and concepts.
The concept of licensing is relatively simple. The word, from Latin, means permission, given by one party who controls ...
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