Licensing & Exploitation
So you’ve created something, now let’s go on and make some money out of it!
A carefully considered and well-crafted contract is key to making the most of the work you have created - whether it is a copyright work, an invention or a sought after brand.
Licensing, franchising and a host of other arrangements are available to give you the opportunity to make the most out of your creative genius; but don’t just give it away, get specialist advice on these arrangements.
Remember that before you tell other people about your invention you need to get them signed up to confidentiality undertakings and contractual promises that they won’t just pinch your ideas.
We can guide you through these stages.
A few tips to get you started:
- First make sure that you own it - the law on this often trips people up;
- Register your rights, if you can - we don’t deal with registration, but we can recommend people who do.
- Get those confidentiality agreements signed up before you tell people about your creation;
- Beware of being rushed into arrangements to sell your rights - they may well be very valuable and there might be better ways for you to exploit them;
- Take great care with royalty arrangements - there are lots of traps you can fall into, so take some advice on the detail of the terms.