Licensing agreements are extremely important business tools, which means they need to be drafted carefully and with the oversight of a professional. When you have decided to enter into a licensing arrangement, a qualified attorney can benefit the transaction in multiple ways. The right lawyer will make sure your final agreement is in your best interests and protects your property.
What should you look for in hiring a lawyer for your licensing agreement? In your search for an attorney, consider the following qualifications:
Your attorney should have significant experience, which does not just mean a certain number of years practicing law. Your lawyer needs to have experience handling licensing agreements, particularly those that entail the types of issues to be addressed in your agreement. Make sure your attorney understands your company’s needs and has worked with clients in similar situations. You do not want to entrust such a valuable contract to someone who does not have sufficient experience for the job. An experienced attorney can suggest alternate solutions to common problems, based on choices others have made in the past.
Command of the Law
The attorney who handles your licensing agreement should have a solid command of licensing law, specifically the laws that apply to the type of asset you are considering licensing. Depending on the type of asset to be licensed, it may be subject to state or federal law(s), there may be industry-specific laws and/or regulations that also must be adhered to, such as US Export regulations for software or HIPAA for healthcare items.
The search for the right attorney to create and review your licensing agreement involves consideration of many factors, but those listed above will help to guide you in the decision. You can gain a lot of information about firms from their websites and client reviews, but you will learn even more during a meeting. It is always best to schedule an initial consultation with the firm you’re considering in order to gain a sense of the firm’s background and vision for your business opportunities.
If you are considering a licensing agreement, contact Larsen Law Offices, LLC, for a consultation. You can schedule a meeting with skilled licensing attorney Susan Larsen to discuss your options by calling (303) 520-6030.