Licensing
A license is the grant of permission to an individual or other entity for that individual or entity to do something that it would not otherwise have permission to do. The lawyers at Petock & Petock, LLC understand that a licensing agreement is often the most efficient way for its clients to realize economic success from their properties. We are experienced in negotiating and drafting all types of license agreements including patent licenses, trademark licenses, copyright licenses and the like. These agreements often contain provisions such as guaranteed minimum royalties, provisions relating to royalty base and calculations of royalties, including variable royalty rates, royalty reports, auditing, transferability of rights under the license, additional compensation in cases of misreporting of royalties, provisions in case of insolvency or bankruptcy of the licensee and various other provisions. We can accommodate all of your needs for professional services in connection with the licensing of properties including helping you make that important initial first contact with a company that might be interested in taking a license.
