Licensing Contract Cost

Typical costs:

• Look at existing licensing agreements, such as those included with the software programs on your computer. Don't copy them exactly, but use them to get a sense of what needs to be in an agreement. Many websites post free sample agreements^[1] , and companies such as LawDepot.com^[2] or Nolo Press provide online forms that can be adapted to your needs for $10-$50 or more, depending on the level of service/advice provided.
• If you want a licensing agreement tailored to your specific situation, most attorneys charge $100-$300 or more an hour. A simple contract typically takes about 3-4 hours, or $300-$1,200 or more -- which includes an initial draft plus revisions. The more complicated the product or situation, the more time it will take and the more it will cost.
• Having an attorney review a licensing agreement proposed by the other party could take an hour or more, or anywhere from $100-$500 and up depending on how much work is involved and the attorney's hourly rate.

• A licensing agreement needs to clearly define the scope of the license (so the owner retains the ultimate ownership rights), any money involved (such as a one-time license fee, royalties or monthly payments), the term or length of the agreement, prohibited uses and other details. Lawyers.com provides an overview^[3] of licensing agreements.
• The Yale Library has compiled information about licensing and maintaining collections of digital information, including a standard licensing agreement^[4] and a list of general clauses^[5] that appear in licensing agreements.
• FindLaw.com provides an overview of licensing an invention^[6] .

• If your lawyer negotiates for you, it could take more time and cost more. Remember that your attorney may have to talk with you about what you want, talk with the other party, talk with you again about the other party's proposals, then get back to the other party with your response. A negotiation that might take you about 15 minutes in direct conversation with the other party could take an hour of your attorney's time.

• Some people cut costs but still get legal guidance by using a free sample agreement to create a document, then have an attorney review it. This works only if you start with a valid sample contract.

• In business law, attorneys who handle legal disputes are litigators while those who handle contracts, securities and other business matters are transactional lawyers. An Illinois attorney provides tips for selecting^[7] a business lawyer.
• Licensing agreements come under intellectual property law. Referrals to intellectual property attorneys are available from Lawyers.com^[8] and FindLaw.com^[9] .
• Your attorney should provide you with a written fee agreement; be sure you understand what is or is not included, and all potential costs.

1.  www.google.com/search?client=firefox-a&rls=org.mozilla%3Aen-US%3Aofficial&channel=...
2.  www.lawdepot.com/searchzoom/?zoom_query=licensing+agreement&zoom_per_page=10&zoom_...
3.  intellectual-property.lawyers.com/common/content/print_content.php?articleid=1001788&
4.  liblicense.crl.edu/
5.  liblicense.crl.edu/
6.  smallbusiness.findlaw.com/intellectual-property/invention-licensing-versus-manufac...
7.  www.illinoisbusinessattorney.com/articles/selecting_business_attorney.html
8.  www.lawyers.com/intellectual-property/find-law-firms-by-location/
9.  lawyers.findlaw.com/lawyer/practice/Intellectual-Property-Law

Check Out All Costs for Small Business		How Much Does an Event Planner Cost?		How Much Do Business Cards Cost?		How Much Does Office Cleaning Cost?

Today's Featured Cost Articles

Looking for help to take care of your garden? How much does garden service cost. The hot summer weather is here. How much does central air conditioning cost? Usage of streaming services is skyrocketing. We list the latest offerings and deals. Staying cool during the summer also means on the road. We cover the cost of car air conditioning. A BBQ grill can come in handy during the summer.

About CostHelper

CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community

Low cost baby shower Paid: 600.00 I spent about $200 on food/snacks/simple decor- where I served Packaged desserts (due to covid) and deli sandwiches, bbq chicken and Bread/cheese/fruit... [more] -Mommy to be Baby Shower Cost TSLIM Insulin Pump Paid: 1131.20 I have Federal Blue Cross, the most expensive Self Plan. The insurance company paid $5,584.20 for the TSLIM, and I paid $1,131.20 out of pocket. Medtronic Insulin pump was quoted at the same price... [more] -Read by EOB Insulin Pump Cost Prescription Eye Glasses Paid: 380.00 Eye exam was less than $60. Frames alone were about $118. Extra-wide progrssive lenses an additional $80. Polycarbonate thin lens with blue light filter, UV protection, anti-glare, 1-year warranty on frames & lenses... [more] -Lady 70 Eyeglasses Cost About the free dog food Paid: 100.00 I'm a 70 year old retired senior citizen I have two dogs Lily is Irish Terrier weighs about 15 lb very good dog Jade is a blue nose pitbull and she's 5 months old and weighs about 55 lb cost me $100 or better a month to feed them I like to ... [more] -Robert moneyhan Dog Food Cost DIY Front End Paid: 965.00 Front: 2xCV axel, 2xball joints, 2x Sway bar end links,sway bar bushings, 2xrotors, 2x brake pads. $500Rear: brake pads. $35New Tools (yay!):3 ton floor jack, 20v impact wrench, 2x Jack stands, tube lock-tite, can of pb blaster. $430.$965... [more] -Mr. Gillis Car Suspension Cost Fujitsu split single unit Paid: 3400.00 I was charged 3400 which include electrical work. The contractor was referred to me by a neighbor. I asked about a rebate and was informed the cost included any rebate money and he (the contractor) would take care of it... [more] -A wary lake resident Ductless Air Conditioner Cost