Licensing Myths & Mastery

CHAPTER 4

Agreement Overview

Any agreement can seem overwhelming. It is much easier to break it down into the parts of the recital, the grant, the terms, and common clauses, among others. Included in this chapter are details on the many important clauses and provisions to familiarize you with the language. No matter what, the more you know, the better positioned you are to make informed decisions; however, the final agreement should be written or reviewed by your attorney.

Every agreement must have an Offer, an Acceptance, and Consideration. Each party is required to provide something of value as Consideration for the agreement to be effective. The licensor usually provides the intellectual property (IP), and the licensee usually provides the ...