NAICS 533 - Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)

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Key Terms

NAICS 53 intellectual property leasing patent licensing trademark assignment franchise agreements royalty payments licensing fees intangible assets government contracts intellectual property rights nonfinancial asset leasing licensing agreements technology transfer brand name licensing franchise rights

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Related NAICS Codes for NAICS 533

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What is NAICS 533

NAICS code 533 covers establishments primarily engaged in leasing nonfinancial intangible assets, excluding copyrighted works. This sector includes businesses that assign rights to patents, trademarks, brand names, and franchise agreements, typically in exchange for royalty payments or licensing fees. Companies operating in this sector often own these intangible assets and grant usage rights to other parties. These businesses may or may not have been the original creators of the assets they lease. Government agencies contract with firms under this code to access patented technologies, licensed trademarks, or franchise agreements that support various operational, research, or programmatic needs. The focus is on intellectual property and intangible rights rather than physical or real property leasing.

Industry Classification for NAICS 533

Industries in the Lessors of Nonfinancial Intangible Assets (except Copyrighted Works) subsector include establishments primarily engaged in assigning rights to assets, such as patents, trademarks, brand names, and/or franchise agreements, for which a royalty payment or licensing fee is paid to the asset holder. Establishments in this subsector own the patents, trademarks, and/or franchise agreements that they allow others to use or reproduce for a fee and may or may not have created those assets.

Establishments that allow franchisees the use of the franchise name, contingent on the franchisee buying products or services from the franchisor, are classified elsewhere.

Excluded from this subsector are establishments primarily engaged in leasing real property and establishments primarily engaged in leasing tangible assets, such as automobiles, computers, consumer goods, and industrial machinery and equipment. These establishments are classified in Subsector 531, Real Estate, and Subsector 532, Rental and Leasing Services, respectively.

Breakdown for NAICS 533

  • Includes businesses assigning rights to patents, trademarks, brand names, and franchise agreements.
  • Excludes leasing of real property and tangible assets like vehicles or equipment.
  • Focuses on intangible assets that may or may not have been originally developed by the lessor.
  • Establishments receive royalty or licensing fees in exchange for granting usage rights.
  • Typical clients include government agencies seeking access to specialized intellectual property.
  • Classified separately from real estate and tangible asset leasing subsectors.

Included Activities for NAICS 533

  • Assigning patent rights for government use through licensing agreements.
  • Leasing trademarks to authorized users in compliance with licensing terms.
  • Managing and licensing brand names for government-related projects.
  • Granting franchise agreements with associated royalty fee structures.
  • Negotiating and administering intellectual property usage contracts.
  • Collecting royalty payments from licensees.
  • Monitoring compliance with licensing and franchise terms.
  • Supporting technology transfer initiatives involving intangible assets.

Business Types for NAICS 533

  • Patent holding companies
  • Trademark licensing firms
  • Franchise rights lessors
  • Technology transfer organizations
  • Intellectual property management companies
  • Brand name licensors

Government Buyers for NAICS 533

Federal, state, and local government agencies purchase services under NAICS 533 primarily to gain access to patented technologies, proprietary processes, or established brand identities that can enhance government programs or support innovation. Agencies such as the Department of Defense, Department of Commerce, and the Small Business Administration may engage licensing agreements to leverage intellectual property for research, development, or public service delivery. These contracts enable government entities to legally utilize specialized assets without the need for direct development or ownership, facilitating efficient program implementation and technological advancement.

Contract Types & Procurement for NAICS 533

Contracts under this NAICS code commonly involve licensing agreements, royalty arrangements, and intellectual property assignments. Procurement methods may include competitive bidding, sole-source contracts when unique patents or trademarks are involved, and negotiated agreements reflecting the value of the intangible assets. Contract values vary widely depending on the asset's nature and scope, ranging from small licensing fees for limited use to multimillion-dollar agreements for extensive franchise or patent rights. Performance-based contracting is less common, whereas clear terms on usage rights and payment structures are critical components.

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