Legal Question in Business Law in Illinois

What does this mean? It is stated in a contract and I want to understand what exactly this company will have rights too if I sign this.

Intellectual Property. The Supplier assigns to WME IMG, is affiliates and subsidiaries, with full title guarantee and free from all third party rights, the Intellectual Property Rights, and all other rights, in the products of the Services (including the Deliverables) and acknowledges that upon creation, WME IMG, its affiliates and subsidiaries shall be the legal and beneficial owner on an irrevocable, perpetual, non-exclusive, worldwide, royalty-free right and licence basis, with full title guarantee of any such Intellectual Property Rights and rights.


Asked on 6/08/17, 1:33 pm

1 Answer from Attorneys
David K. Staub Staub Anderson LLC

It's hard to say exactly from without seeing everything in context. If you are the Supplier, you are assigning all rights you have in the Services (including the Deliverables). That is a common provision in a buyer-oriented agreement but it is generally far too broad and means the Supplier is left without ANY rights in what was created. There are a number of ways to handle it in a more equitable manner, depending on the specific facts. You should have your lawyer suggest alternatives.

Read more
Answered on 6/08/17, 1:46 pm


Related Questions & Answers

More Business Law questions and answers in Illinois