Issue link: https://htpgraphics.uberflip.com/i/246988
The Licence – the Basics Section 5 As both interested parties will be operating in differing sectors (one in the medical sector and the other in the food sector), Dr. Genius could grant an exclusive licence to both parties in different fields of use. By doing this, Dr. Genius will have created a greater opportunity to maximise the money to be made from the IP and will not have to rely on the success of just one avenue of commercialisation. If it becomes apparent that the IP can be used for purposes other than those proposed by Dial Drug Limited and Sugar Free Limited, Dr. Genius could exploit these in the future. Here are some tips on how to make the most of the rights you are licensing: Scenario: Your licensee is keen to obtain an exclusive licence on a worldwide basis. You are not sure that your licensee has the capacity or the experience to commercialise on a worldwide basis. Suggestion: You could provide your licensee with exclusive rights in a more limited territory where you are confident the licensee will be successful. As it is possible to offer both exclusive and non-exclusive rights in the same agreement you could then offer non-exclusive rights in a wider geographical area (although this would restrict you from offering exclusive rights to a third party in these territories). A further possibility would be to offer your licensee an option or right of first refusal in respect of additional territories, as and when the licensee is able to make a convincing business case to you that it has the capacity to enter into those further markets. 31