Are you an entrepreneur, who creates content, e.g., books, seminars, special reports, articles?
- Do you see your content as a valuable asset?
- Do you have clients who would love to use your content?
- Are you willing to let them for a price?
- Have you considered licensing your content?
Licensing your valuable content to others is a great way to expand your network, get your powerful message out to the broader world, and generate passive income. And if done correctly, you will also create a method, by which, to protect your content. But before you draft a licensing agreement, think carefully about some of the important provisions you should include.
Here are just a few of the many factors to take into account, when preparing a valid and enforceable licensing agreement:
- Make sure what you want is a license and not an assignment
- Make sure it is something that can be licensed
- Make sure you clearly understand the territorial limits e.g., how broad, narrow, global, states?
- What is the scope or field of use of the license?
- Is it exclusive or non-exclusive?
- Which boilerplates (that are not so boilerplate) should you include?
- And many more…
So before you use that licensing agreement template that someone gave you, make sure you know what it says, and that it says what you need it to say. Moreover, if you don’t know what you are doing, you may consider hiring a competent attorney to do it for you.
Until next time, I’m Attorney Francine Ward helping you protect your business, your brand, your content, and your estate. Join my conversation on my website, my Facebook Fan Page, and in any of my LinkedIn Groups.