By
Lisa A. Lori
and Esq.
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2. Negotiate a License Agreement With the Intellectual Property Owner That Includes Clear Terms
In a license arrangement, the intellectual property owner, called the licensor, gives rights to a licensee to use and sell products bearing the licensor's intellectual property for a fee—typically a percentage of sales called a royalty. While the agreed-to royalty is a critical term, other terms can be equally as important.
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- People:
- Lisa A. Lori
- Places:
- Cleveland
Lisa A. Lori
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Esq.
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