“The Returns on Intellectual Property Rights Investment
First, we would like to point out that intellectual property is the
product of human intellectual creations. For example, inventions that obtain a patent for a device or a mechanism, or an innovative step in any field of life, in addition to literary and artistic works embodied in copyright, names and logos embodied in trademarks, and product designs embodied in industrial designs, among other rights. These intellectual property rights are protected under local laws, international laws, and specific agreements for each of them.
Since such rights have been created by their owners and took considerable effort to obtain them for consumers, they, in turn, deserve all the returns invested in their intellectual property rights. Under the laws related to intellectual property, the owners of these rights have the right to benefit from their innovations and make profits through third parties, for
example:
Licensing:
This is when the owner of the intellectual property right allows others to use that right and benefit from its reputation for a financial consideration agreed upon in a licensing agreement. For example, a company grants a license to use its trademark to another company in a different geographic area under agreed terms and conditions.
Franchising:
This is when the owner of the intellectual property right allows others to use the unique identity of the product or service in the way they use all its characteristics and features under certain terms and conditions specified in a franchising agreement, in a geographic area defined based on the franchise agreement. For example, the owner of a service provider grants a franchise for a trademark in a specific service sector using the same identity and
product in different sales outlets in the same geographic area or outside it for a satisfactory financial consideration agreed upon and included in the agreement.
Sale or Assignment:
This is when the owner of the intellectual property right sells or assigns their right in the ownership of a trademark or patent.