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  • 3 - The Nature of an Intellectual Property License

  • from Part I - Introduction to Intellectual Property Licensing
  • Jorge L. Contreras, University of Utah
  • Book:
    Intellectual Property Licensing and Transactions
    Published online:
    21 June 2022
    Print publication:
    30 June 2022, pp 47-66
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  • Summary

    Chapter 3 covers theoretical issues surrounding the nature of a “license” of IP and how it compares to similar rights of usage in the context of real and personal property. It considers whether, as some courts have held, a license is a covenant not to sue, or a property right with more substantial ties to the underlying IP rights. It next addresses the law governing IP transactions, including state contract law, property law, the Uniform Commercial Code and federal common law. It concludes with a discussion of the effects of transfers of IP on underlying license rights.