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Intellectual property is your property: you may protect it, but also exploit it commercially. Just as with tangible assets, you can license, transfer, or pledge your IP rights — and take action against anyone who infringes upon them.
Protecting and enforcing your IP
Intellectual property is intangible, but it does enjoy protection. No one may simply use your work, trademark, or invention. If someone infringes, you can take action: send a cease and desist letter, demand removal and damages, and seek an injunction with a penalty payment.
Licensing IP
You can grant someone else permission to use your IP via a license, in exchange for a fee (royalty). The license can be exclusive or non-exclusive and limited to a territory, period, or application. This way, you earn from your IP without giving it away.
Transfer or pledge intellectual property
You can also fully transfer IP rights to another party, for example in the case of a business acquisition. A deed is required for the transfer of certain rights, such as copyright. Additionally, you can pledge IP rights as security for financing.
Document agreements properly
Whether you grant, transfer, or pledge a license: record the agreements in writing and precisely. Uncertainty regarding the scope of a license or the transfer leads to conflicts. For work performed by employees or freelancers, determine in advance who holds the rights.
Frequently Asked Questions
Can I earn money from my intellectual property?
Yes, inter alia by granting a license against a royalty, or by transferring or pledging the rights.
Do I need a deed to transfer intellectual property?
For certain rights, such as copyright, a deed is required. Always record the transfer in writing and precisely.
What can I do in case of infringement?
You can issue a formal demand, demand removal and compensation, and seek an injunction with a penalty payment.
Leveraging your IP commercially?
Our legal experts draft license agreements or deeds of transfer and take action against infringement. View our IP lawteam or schedule a free consultation.
