Issue link: https://htpgraphics.uberflip.com/i/246988
The Licence – the Basics Section 5 Example: By using these principles, you can tailor this very wide licence: "The Licensor grants to the Licensee an exclusive licence to use the Licensed Technology" to this more specific licence: "The Licensor grants to the Licensee an exclusive licence to use the Licensed Technology solely within the Field of Use to manufacture the Licensed Products within the Territory" Don't put all your eggs in one basket! You do not have to limit yourself to one licensee for the same IP. You would be taking a risk if you totally rely on one single party to commercialise your IP successfully in all ways and in all markets. What if things go wrong? What if your licensee turns out not to be as experienced or committed as you had originally thought? Even if you are thinking of granting a third party an exclusive licence of your IP, you can see from the previous example that there are ways in which you can tailor the licence to only that which is needed. This will leave you with other options in respect of the same IP in different areas. Dr. Genius has a patent for a process which can be used to enable self-analysis of blood glucose levels. Under cover of confidentiality agreements, he has been negotiating with two parties, Dial Drug Limited and Sugar Free plc with a view to licensing the patent to either of them. Through negotiation it has emerged that Dial Drug Limited wishes to use the patent to manufacture a product which will allow diabetics to carry out self-analysis of their blood glucose levels whereas Sugar Free Limited wishes to use the patent to manufacture and sell a product which can be used to monitor the sugar content in juice drinks for babies and toddlers. 30