Top Ten Do's and Don'ts of IP Licensing

This article from Mondaq (free subscription required) offers ten do's and don't for IP licensing, stating:

"To create effective licenses for both licensors and licensees, it is important to have an understanding of the common legal and business issues that arise in negotiating licenses by following these "Top 10" tips. Software, Web sites, e-commerce transactions and information technology generally can involve many different forms of intellectual property (IP). On a Web site, for example, copyrights can exist in software, content, multimedia and databases. Patent rights may exist in processes used in software, Web sites and e-commerce. And, trade-mark rights may exist in software product names, domain names, hyperlinks that reflect business or product names, logos, word designs or even sounds used to distinguish goods or services."

The tips are:

1. Do Your Due Diligence
2. Don’t Take "Who" & "What" in a License Grant for Granted
3. Do Know the Difference Between Sole, Exclusive & Non-Exclusive
4. Do Sweat the Small Stuff in License Grants
5. Don’t Blindly Agree to Restrictions on Licensing
6. Do Beware of Representations & Warranties
7. Do Structure Compensation Strategically
8. Do Consider Bankruptcy & Insolvency
9. Don’t Underestimate the Term & Termination
10. Be Choosy About Choice of Law