It might happen that an owner of intellectual property rights may need to assign the rights to an IP object or issue a license to use an IP object.
In the case of issuing license, the IP object’s owner (the licensor) retains the right of ownership, and the licensee receives permission to use the object for a period stipulated by the contract in a certain territory.
The license agreement may be provided for the following types of licenses:
1) Exclusive license.
It is granted only to one licensee. In this case, the licensor loses the right to use the object in a specified area for a period stipulated by the license agreement and to issue a license to use this IP object to other persons.
2) Sole license.
It is granted only to one licensee. The licensor loses the possibility of issuing licenses for the use of the IP object in a specified area to other persons but retains the right to use the IP object in a specified area by himself.
3) Non-exclusive license.
The licensee receives permission to use the IP object in a specified area for a period stipulated by the agreement. A non-exclusive license does not restrict the licensor’s rights to use the IP object and to issue licenses for its use in the specified area to other persons.
According to the Ukrainian legislation, registration of a license agreement is optional, but can be performed at the request of the licensor or licensee.
In the case of assignment of rights, it is about the loss of rights to the IP object by its first owner and the acquisition of these rights by the new owner. In Ukraine, registration of an agreement on the assignment of rights is mandatory. To do this, one is to submit the relevant documents to the Ministry of Economic Development and Trade of Ukraine and pay an official fee for the publication of information on the assignment of rights.
If you need to assign IP rights or issue a license in Ukraine or abroad, please contact us! Our specialists will give competent and clear answers to all your questions and provide all necessary services.