Addressing intellectual property ownership in a contract is one of the most important things every entrepreneur should consider when signing a new contract. To help, we’ve set up a hypothetical deal below to highlight the key points.
Imagine BigCorp hires DesignCo, LLC to invent a new toaster and create a brand name and marketing materials.
BigCorp basically has two options here:
NewCo also has several negotiating options.
IP is complicated, even for many lawyers. That’s why you should always work with an intellectual property attorney that can give you guidance on these issues.
(This article is general in nature and is not legal advice.)
How to simplify contracts to create better deals.
What is a Contract?
How to Write a Contract
Essential Contract Terms
Reviewing a Contract