Sometimes you come up with a great idea for yourself, sometimes you come up with one for someone else. Or maybe you don’t have the resources right now to take advantage of your good idea, but someone else does. So how do you make sure you’re taken care of while someone else takes care of your big idea?
A licensing contract or agreement can allow you to share your intellectual property and get compensated if someone else is making money off your ideas. Licensing contracts may also allow your small business to use someone else’s ideas or content without getting sued, and may be a good idea when using independent contractors. Here’s a quick overview on licensing contracts and how they can help your small business.
