Trade marks licenses

It is clear to see that any intellectual property is a good business asset. But having a registered trade mark could bring you in some income from a number of sources, not just the obvious.

If you have a registered trade mark that you are not using to its full potential but don’t want to lose control over it, you can create a trade mark license with another party.

A license is created to give another party permission to use your trade mark for an agreed fee. This could accumulate a good income for a company that is not making best of its intellectual property.

Any license has to be done through a contractual agreement. The requirements of a binding license state that this agreement needs to be in writing and that both parties need to agree with all expressed terms which should include details of time scale and fees.

Even though a license is between the two companies that create it, the UK Intellectual Property Office requires notification of any licenses created to allow efficiency when giving indication as to ownership of any registered trade mark as well as having a control over all activity in case of any issues.

The form required to give notice of a license can be found on the UK IPO’s website as well as all information in relation to the fee that is required when the notice is submitted.

If you require any assistance in creating a license do not hesitate to contact The Trademarkroom

By Ellis Sweetenham