Many inventors will ultimately license their patents to others who will develop a business around those patents.  Likewise, many copyright and trademark owners license their intellectual properties to others in exchange for a royalty.  While these arrangements are common, entrepreneurs and their attorneys should understand that if three specific elements are present, these licenses are franchises under Minnesota and federal law, and the failure to register that franchise in Minnesota (and other states), and make proper disclosures to the licensee, could result in numerous penalties, including felony charges. The … [Read more...]