If you own the intellectual property, it only takes you a few minutes to create a license agreement and get paid for your work. You may have a patent or trademark. Or maybe you`re the person who wants to use a poem, logo, or a unique manufacturing process for a while. The owner deserves compensation. A license agreement helps you determine the big things, including the end result. In the event of a breach of this Agreement, Licensor undertakes to keep the Fellows harmless from any loss, damage or injury that may occur. If you are thinking about licensing your intellectual property or becoming a licensee, you should be familiar with licensing agreements. A company`s licensing agreement is a central element of any licensing operation and ensures that both parties are compensated fairly for their contributions.