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3 Sample Documents
Product Licensing Agreement
Product licensing is one of the easier ways for inventors to get their new product to market. Product licensing is essentially where a company will rent, or license, a product from an inventor and then provide the necessary capital, manufacturing, and distribution of the product. The inventor (owner or Licensor) collects a royalty payment based on sales made by the company (the renter or Licensee). Because the company has the capital and resources to bring the product to life, licensing tends to be faster, more affordable, and more profitable for inventors.
We’re often asked for sample documents and have included the following 3 samples to help you learn some of the common language used in the agreements. They are provided for educational purposes only. Throughout the process relying on legal advice is strongly advised. It is important that you not only seek out the expertise of an attorney, but that you also listen to the advice and make sure you understand the implications if you don’t take their advice.
Please note: The UIA does not provide legal advice. We ALWAYS recommend that you retain your own lawyer to help you with any contracts and legal issues, it just makes good business sense!
Official Disclaimer: THIS SAMPLE DOCUMENTS ARE BEING PROVIDED BY THE UNITED INVENTORS ASSOCIATION STRICTLY AS AN EXAMPLE AND DOES NOT CONSTITUTE LEGAL ADVICE. IT IS STRONGLY RECOMMENDED THAT YOU SEEK ADVICE OF A QUALIFIED PATENT ATTORNEY BEFORE ENTERING INTO ANY AGREEMENTS RELATED TO INVENTIONS OR PATENTS.