Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Intellectual property definition

What does Intellectual property mean? Intellectual property describes intangible legal rights in creative, technical and branding outputs used and enforced in commercial practice, often abbreviated to IP or IPR. In the UK and Ireland the term is descriptive rather than a single statutory definition; discrete rights arise under specific regimes, typically including copyright, patents, trade marks, registered and unregistered designs, database right, trade secrets and confidential information, and the common law tort of passing off. These rights are territorial, generally time‑limited (trade secrets/confidential information can subsist indefinitely if secrecy is maintained), and confer exclusive rights that can be licensed, assigned, charged as security and...

Short-form seller-to-buyer licence of retained intellectual property ancillary to asset purchase agreement (England and Wales)

Published by a LexisNexis IP expert

Precedents

This Agreement is dated [ insert date ] (the Commencement Date) and is entered into by the following (each a ‘party’ and together the ‘parties’):

Parties

[ insert licensor name ], a company incorporated in England and Wales with registered number [ insert company number ] and whose registered office is at [ insert registered office ] (the Licensor); and
[ insert licensee name ], a company incorporated in England and Wales with registered number [ insert company number ] and whose registered office is at [ insert registered office ] (the Licensee).

Background

(A) [ The Licensor has entered into an agreement with the Licensee [ dated [ insert date ] ] for the sale of [ the [ insert name ] business AND/OR certain business assets ] by the Licensor as seller to the Licensee as buyer OR [ insert other description of relevant transaction (referencing any relevant related agreements) ] ] (the Transaction).
(B) The Licensor has agreed to grant, and the Licensee has agreed to accept, a Licence over certain Intellectual property rights not passing to the Licensee under the Transaction, which the Licensee wishes to use or benefit from on the terms of this Agreement.
(C)

...

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Web page updated on 22/05/2026

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