Issue link: https://htpgraphics.uberflip.com/i/116731
How can IP be commercialised? ConcernAssignment Insolvency Maintenance/ Costs Section 1 Licence If the new owner of the IP becomes insolvent it is very difficult to recover your rights in the IP. You would in effect have to buy it from the insolvency practitioner, such as a liquidator. If the person/company you have allowed to use your IP becomes insolvent, you should be able to recover all the rights you granted to such person/ company, as long as you provided for this in your licence agreement. If you assign registered rights, the new owner will assume responsibility for the maintenance and defence of the registered rights e.g. the payment of renewal fees and any legal costs. If you license registered rights, unless otherwise provided for under the licence agreement, the owner will retain responsibility for the maintenance and defence of those rights. In some cases you may be in a position where the IP is simply not worth you continuing with these responsibilities. In these cases it may be simpler just to assign. 7 3 3 7 As you can see, in most cases it will be more beneficial for you to license your IP as opposed to assigning it. Licensing is not easy though. Unless you are very experienced in licensing you should get advice from your IP commercialisation organisation or a specialist IP lawyer. Let's now look in more detail at some of the issues you should be considering when allowing someone to use your IP. 9