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If you own intellectual property (IP), but lack the desire or the resources to bring it to market, you can license it out to other businesses.
By granting an IP licence, you allow the licence holder to use your IP, manufacture, distribute or sell products and services based on your intellectual creation. In return, they pay you royalties - either as a percentage of the income they generate from your IP, or as a fixed or variable fee.
You can license all types of IP, including:
There are a number of different types of IP licences that you can grant:
Whichever licence you grant, you need to make sure that you appoint licensees that will maximise the potential of your IP. You should appoint people who have the skills and resources to manufacture the products and the distribution network to get those goods to the market. The potential licensee should have a good reputation and track record - you will want someone who won't risk damaging your business or product brand.
Before you grant a license to another business to use your IP, you should discuss and agree:
GOV.UK provide further information on licensing intellectual property.