The Licensing Executives Society (LES) recently held its annual meeting in New Orleans, drawing together a diverse group of intellectual property (IP) licensing professionals, including attorneys, academics, service providers, and industry leaders in fields like life sciences and high technology. The multi-day event covered a range of important themes for those navigating the evolving landscape of IP licensing. Our team was excited to be on the ground.
Here are the main takeaways:
1. New Opportunities in IP Licensing
Recent years have opened up significant new opportunities for licensors and licensees across industries. In keeping with 2024’s dominant trend, multiple panels focused on the impact of artificial intelligence (AI). With the rise of generative AI and specialized machine learning platforms—such as those used in drug discovery—licensors now have a chance to monetize valuable datasets for training and fine-tuning these models. Additionally, new industries are emerging. The rapid growth of name, image, and likeness (NIL) agreements for college athletes, demonstrates how brand licensing and sponsorships are expanding in a new area among universities, athletes, and sponsors.
2. Evolving Legal Landscape
The legal framework for licensing continues to shift, particularly in the realm of intellectual property law. Panelists emphasized that regulations surrounding AI-generated inventions and copyrightable works remain in flux, with the current landscape expected to change in the near future. Additionally, new case law stemming from licensing disputes is providing essential lessons for practitioners. These developments underscore the importance of reducing ambiguity in agreements, clearly defining carve-outs, and being mindful of the parties’ intent when drafting terms to mitigate potential negative outcomes.
3. Expanding Global Reach
The LES conference underscored the increasingly global nature of IP licensing. With cross-border collaborations and multinational partnerships becoming more common, the global market for IP licensing continues to grow. LES remains a hub for fostering these connections and sharing insights among licensing professionals from around the world.
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