In an article published in Industry Today, Bryan Wheelock advises of the dangers of imprecise license agreements, outlining specific cases to explain where potential problems may arise for the licensor or licensee.
“When considering what additional licensees can be added, it is important to define not just who can be added, but when they can be added,” explains Wheelock. “As the Federal Circuit said, if the parties intended to limit the group to those in existence at a certain time, they could have done so.”
Wheelock further discusses how a party negotiating and drafting a license agreement can attain precision by outlining a list of aspects to address and define.
“Parties to a license are usually fairly clear about what they want from the license agreement. However, precision comes when they are equally clear about what they do not want from the license agreement,” writes Wheelock.
To read the full article, you may click here.
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