We prepare licence agreements that allow a party to use the plant and equipment and the intellectual property of another party for a fee without obtaining ownership of that property.
Our Proven Experience
For 25 years we have acted for businesses and companies of all sizes as well as for financial institutions including the Bank of Melbourne, United Credit Union now Beyond Bank Australia, National Australia Bank, Bank of Queensland and large National Mortgage Insurer MGICA. However this work, whilst important, has certainly not been more important to us than helping individuals and businesses of all sizes.
Our practice is located outside of the Perth CBD and because of this our hourly rates are 20% lower than the standard rates charged by most Perth law firms. Our rates are extremely competitive compared to the rates charged by other commercial law firms.
Licence agreements can be used within a group of companies. For example, a holding company in the group could be the owner of the intellectual property with subsidiary or related companies entering into licence agreements for the use of that intellectual property for a fee. These agreements protect the valuable intellectual property of the group from third party claims in the event of insolvency of a subsidiary and have taxation benefits by allowing the subsidiaries to claim the costs of the licence agreement as a cost of business.
Even plant and equipment can be protected if it is owned by one of your companies and then licenced to another of your companies that trades. The company that trades should not own the equipment so it can't be seized if the company has legal problems.
We regularly advise clients with respect to licence agreements, including:
- Advising on the asset protection and taxation advantages that flow from using licence agreements.
- Advising on suitability of licence agreements with respect to a client's circumstances
- Advising on terms of licence agreements, including with respect to rights and obligations, payments and taxation consequences.
- Liaising with specialist practitioners, such as in relation to taxation consequences; and
- Advising and representing the client with respect of disputes in relation to breach of licence agreements.
If you require legal advice in relation to licence agreements, please do not hesitate to contact us to arrange a meeting so that we may consider your specific circumstances.