Intellectual property licence (asset purchase) (long form)
Intellectual property licence (asset purchase) (long form)

The following IP precedent provides comprehensive and up to date legal information covering:

  • Intellectual property licence (asset purchase) (long form)
  • Background
  • 1 Definitions and interpretation
  • 2 Priority
  • 3 Commencement
  • 4 Duration
  • 5 Licensed IPR
  • 6 Grant of licence
  • 7 Use of the Licensed IPR
  • 8 Modifications and improvements
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for intellectual property?

This Agreement is made on [insert date] (Commencement Date) between the following parties (each a ‘party’ and together the ‘parties’):

Parties

  1. 1

    [insert licensor name] a company incorporated in [England and Wales] whose registered number is [insert company number] and whose registered office is at [insert registered office] (Licensor); and

  1. 2

    [insert licensee name] a company incorporated in [England and Wales] whose registered number is [insert company number] and whose registered office is at [insert registered office] (Licensee).

Background

    1. (A)

      [Licensor has entered into an agreement with Licensee[ dated [insert date]] for the sale of [the [insert name] business AND/OR certain business assets by Licensor as seller to Licensee as buyer ] OR [insert other description of relevant transaction (referencing any relevant related agreements)]] (Transaction).

    1. (B)

      Licensor owns certain intellectual property rights which are not being transferred to Licensee in the Transaction but

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