Intellectual Property Licensing

Intellectual Property Licensing is a legal arrangement where the owner of a creative work, like a patent, trademark, or copyright, allows another party to use that work under specific terms. This can involve payments or royalties. For example, if a company invents a new technology, it might license that technology to another business, granting them the right to use it while the inventor retains ownership. Licensing helps creators monetize their ideas while giving others the opportunity to utilize those innovations without infringing on the original creator’s rights.