Licenses and assignments are the legal contracts commonly used to grant intellectual property rights (patent, copyright, trademark) to others. The difference between them is easy to understand.
A license usually leaves some part of the ownership of the intellectual property in question with its original owner. This is what happens when Microsoft® grants you a license to use its suite of Office® products. They haven’t given you Office® to use and sell however you see fit. There are restrictions on your use and Microsoft has kept ownership of Office® for itself.
An assignment, in contrast, usually transfers all intellectual property rights from one party to another, leaving no ownership in the intellectual property with the original owner.
When drafting a license or assignment, you want to ensure that the price you ask or offer is appropriate and that the intellectual property rights transferred are what you intend.
Schott, P.C. can help you prepare, negotiate, and enforce your licenses and assignments.