Basic principles: You can allow others to use your patents, utility models, trademarks, and the like as well as your know-how. With a licensing agreement you , the licensor, allow the licensee to use your protection right s . An exclusive license allows the licensee to use the protection right s exclusively. With a simple license the rights are limited, for example, to a certain geographical region.
Like in every other agreement, the licensor and the licensee have duties. First, the licensee has to pay royalties . Secondly, the licensor must pay the renewal fees for the maintenance of the protection rights. Thirdly, licensor must defend the protection rights against third parties. The duties of licensor and licensee should be recorded in the licensing agreement.