Tools › Industries › Real Estate and Rental and Leasing › Property Management Agreement

Property Management Agreement for Lessors of Nonfinancial Intangible Assets

Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) · NAICS 533 · Property Management Agreement

This Property Management Agreement is tailored for owners of nonfinancial intangible assets—such as patents, trademarks, franchise rights, mineral rights, and broadcast licenses—who want to delegate the day-to-day management of their income-producing property to a specialized agent. Unlike real estate property management, this agreement focuses on licensing, royalty collection, and intellectual property enforcement. It clearly defines the manager's authority to market the asset, negotiate licenses, and collect payments, while protecting the owner's control and legal rights. Use this document to formalize your relationship with a licensing agent and ensure your intangible asset is managed professionally and profitably.

When you need this document

You own a patent and want an agent to find licensees and negotiate royalty agreements.
You hold a trademark portfolio and need a manager to handle licensing and quality control.
You own mineral rights and want an agent to manage lease negotiations and royalty collection.
You are a franchisor and need a manager to oversee franchise licensing and compliance.
You own a broadcast license and want a professional to manage sublicensing and regulatory compliance.
You need to formalize a relationship with an existing agent who has been managing your intangible asset informally.

What the generated draft includes

Detailed description of the intangible asset and its unique identifiers (e.g., patent/trademark numbers).
Clear delegation of management duties, including marketing, licensing, and royalty collection.
Compensation structure based on industry norms (e.g., percentage of gross licensing revenue).
Intellectual property protection clauses, including restrictions on sublicensing and infringement enforcement.
Reporting and record-keeping requirements, with audit rights for the owner.
Term and termination provisions that address pending licenses and royalty payments.

Frequently asked questions

What is a property management agreement for intangible assets?

It's a contract between the owner of an intangible asset (like a patent or trademark) and a manager (often called a licensing agent) who handles the business of licensing that asset to third parties. It covers marketing, negotiation, royalty collection, and enforcement.

How is the manager compensated?

Typically, the manager receives a percentage of the gross licensing revenue, often between 10% and 20%, but it can be a fixed fee or a hybrid. The agreement should specify how revenue is calculated and when payments are due.

Can I still control my intellectual property if I hire a manager?

Yes, the agreement should include clauses that require the manager to obtain your approval before sublicensing, changing the asset, or taking major actions. You also retain ownership and can include quality control provisions, especially for trademarks and franchises.

Self-help document generator: you get a structured draft based on the facts you provide. It is not legal, tax, or financial advice; verify jurisdiction-specific rules before sending.