Licensing Agreement - Essay Example

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Licensing Agreement Name: Institution: Licensing Agreement Executive summary Creativity has taken up most of the industries in the world. Creation of new products in the industries has also been on the increase as people try to beat other competitors in the same market…
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Licensing Agreement
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Download file to see previous pages This is considered to be the first step of intellectual property. This report will identify issues that Alarmz ltd might face by entering into an agreement with a Brazilian company and how identified problems might be overcome. Introduction Alarmz Ltd is a company that prides itself with the use of technologically updated car alarms five years running. We deliver and fit the top brands in car alarms including Clifford, Cobra, Hornet, Viper, Avital, Laserline and Autowatch and all forms of car alarm, parking sensors, audio, hid lighting etc. We also fit car accessories at amazingly low prices. Our specialty includes remote start and 2way car alarms and our clients are guaranteed excellent results. With the increase in car thefts and faulty vehicle tracking devices, there is a need to ensure that cars have well manufactured and functioning alarms. This has led to our company, Alarmz Ltd to create ideas for the manufacture of a new tamper proof alarm. This alarm will be designed in a way that minimizes chances of tampering by people who have malicious intentions with the car. This alarm system will have features that will be different from other market alarms. In this quest, we were able to identify the Brazilian Company Redfern Integrated Optics (RIO) Inc as our preferred manufacturer. RIO Inc. is a company that is well known for the manufacture and development of optical and subsystems based on Planar External Cavity Laser Technology (PLANEX). It distributes exclusive price-performance returns in energy, security, infrastructure, metrology, and other markets. The qualities of products produced by RIO Inc are the best so far in the market. Cases of dissatisfaction by customers have been minimal. The distribution of their products is on a wide area scale, as they have adequate transportation that oversees distribution. This is therefore, the better option we have identified to work with as a manufacturing company. There is a need for Alarmz Ltd to enter into a licensing agreement with RIO Inc. A licensing agreement is necessary because, our company needs to protect its intellectual and invention rights. Since our company came up with an idea and wants to make the product a reality, we still need to have rights over the product as the inventors. Alarmz ltd will need to increase its revenue, and the product can do that. Making a licensing agreement ensures that Alarmz ltd; the original inventors of the product enjoy the benefits of the product and are involved when an increase of price for the product is needed. A licensing agreement will enable our company to increase visibility and access to our product under a trademark with RIO Inc. A licensing agreement will enable the product to bring attention to our company. This is an intellectual property that can become symbolic, when shared and used in the right way. Alarmz ltd needs to be careful in entering a licensing agreement and adequate research should be done before with adequate legal guidance. The agreement is contractual between Alarmz ltd and RIO Inc., or any other company that we may choose to do business. In this agreement, RIO Inc. can exploit our product, process and manufacture it, but obliged to pay us royalty from the sale of the product. The licensing agreements will give Alarmz ltd enjoyment of benefits that will be achieved by the production and sale of the alarm. In creating a licensing agreement, we will give limitations to RIO Inc, who is not the ...Download file to see next pagesRead More
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