Intellectual property lawyers & Licences
The licence of Intellectual property rights in Luxembourg with Intellectual property lawyers
The owner of Intellectual property rights in Luxembourg may decide to grant licence(s) and can get help from an intellectual property lawyer to ensure processes’ quality. Both parties to a licence agreement subject to Luxembourg law can freely negoticate the terms of the licence and the Intellectual property rights which are covered. It is recommended to pay particular attention to key issues such as the :
- Definition of the intellectual property rights which are licenced (the licensed rights): this can be very broad and may include patents, copyright and related rights, trade marks, trade names and domain names, rights in designs, database rights, rights in confidential information (including know-how and trade secrets), registered or unregistered rights; applications (and rights to apply) for, and renewals or extensions of, such rights.
- Terms of the licence, including the duration of the licence, the territory on which the intellectual property rights are licenced (i.e. Luxembourg / countries in which the rights are registered for example), if the licence is exclusive or not, if the licence is transferable or not, if the licencee has the right to sublicence or not ;
- Duties and rights of the licensee: licensee will generaly be prohibited from using the licensed rights in any form other than that which is specifically set forth by licensor. Licensee shall be required not to use or register any sign, process or invention which is confusingly similar to that contained in the licensed rights.
- Warranties and liability: each party may wish to limit liabilities, in respect of the licensed rights. In particular, licensor may whish not to make any representation, nor to give any warranty, as to the value or utility of the licensed rights ;
- Royalties: the licensee shall generaly pay to licensor a royalty equal to a certain percentage of gross revenue generated by the licensed rights, per year;
- Audit rights: the licensor may require to inspect licensee’s books and records and all other documents and material in the possession of, or under the control of, Licensee relating to the licensed rights ;