Legal Contracts Online
Are you considering the use of downloaded legal contracts online? Before you do, you need to know a bit more about the pros and cons of using legal contracts you may find in the cloud.
Business owners, investors and bankers consider Intellectual Properties and the products associated with those Properties to be both intangible and tangible assets. Because these assets are the lifeblood of many companies, it is wise to use a seasoned professional to prepare your Intellectual Property agreements.
Cloud Intellectual Property Contracts
With the intent of saving money, sometimes a business drags a contract for intellectual property out of the Cloud. On rare occasions, the Cloud strategy may be adequate for the business. (This is especially true if the agreement is never challenged.)
If, however, you pull a contract off the Internet and it IS challenged, you may find yourself in an expensive legal quagmire. More importantly, you may lose the challenge along with your rights to your Intellectual Property. Consider your needs carefully before using legal contracts online.
Patents, Trademark and Copyright Agreements
When Intellectual Property contracts are prepared, each genre has its own eccentricities. For example:
- Contracts associated with Copyright rights frequently include the phrase “all rights reserved.”
- In many jurisdictions, the sale or license of Trademark rights must also include the goodwill associated with the Trademark.
- License agreements flowing from Patent rights should generally include royalty milestones, among other things.
Intellectual properties are unique and the facts associated with each Intellectual Property agreement are also different. A well-drafted contract takes time and expertise to prepare properly. This is not a “one-size-fits-all” legal situation and legal contracts online are usually too general to be of use.Continue reading
