NAICS 533110 - Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)
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What is NAICS 533110
NAICS code 533110 covers establishments primarily engaged in leasing or licensing nonfinancial intangible assets other than copyrighted works. This includes the assignment of rights to patents, trademarks, brand names, and franchise agreements in exchange for royalty payments or licensing fees. Businesses operating in this sector often serve as intermediaries or owners of intellectual property, facilitating the use of these intangible assets by other entities. The industry plays a critical role in the commercialization and protection of intellectual property, enabling innovation and brand expansion across various industries. Government agencies contract for these services to secure the legal rights to use patented technologies, trademarks, or franchise models essential for public projects, research, and service delivery, ensuring compliance and innovation without the need for direct asset ownership.
Industry Classification for NAICS 533110
This industry comprises 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.
Breakdown for NAICS 533110
- Focuses on leasing or licensing patents, trademarks, brand names, and franchise agreements.
- Excludes copyrighted works, which fall under a separate classification.
- Includes establishments that receive royalty payments or licensing fees for intangible assets.
- Supports commercialization and protection of intellectual property assets.
- Applicable to businesses facilitating intellectual property use in government and private sectors.
Included Activities for NAICS 533110
- Assigning patent rights through licensing agreements.
- Managing trademark and brand name licensing programs.
- Negotiating franchise agreement rights and terms.
- Collecting and administering royalty payments.
- Conducting intellectual property valuation and asset management.
- Facilitating technology transfer and commercialization.
- Monitoring compliance with licensing terms and conditions.
- Providing consulting services related to intangible asset leasing.
Business Types for NAICS 533110
- Patent holding companies
- Trademark licensing firms
- Franchise management companies
- Intellectual property consulting firms
- Technology transfer offices
- Royalty administration services
Subcategories for NAICS 533110
- Brand name licensing
- Franchise agreements, leasing, selling or licensing, without providing other services
- Industrial design licensing
- Oil royalty companies
- Oil royalty leasing
- Oil royalty traders (except for own account)
- Patent buying and licensing
- Patent leasing
- Performance rights, licensing of
- Trademark licensing
Government Buyers for NAICS 533110
Government agencies such as the Department of Defense, Department of Commerce, and the Patent and Trademark Office frequently procure services from this sector. They require licensing of patented technologies, trademarks, or franchise rights to support research and development, enhance operational capabilities, and facilitate public-private partnerships. Agencies involved in technology transfer or commercialization programs also rely on these services to leverage intellectual property assets efficiently. Additionally, educational institutions and research organizations within the government may license patents or trademarks to foster innovation and commercial application of federally funded research.
Contract Types & Procurement for NAICS 533110
Contracts in this sector typically involve licensing agreements, royalty-based contracts, and technology transfer arrangements. Procurement methods may include negotiated contracts, sole-source agreements when specialized or unique intellectual property is required, and competitive bidding for licensing rights. Contract values vary widely depending on the nature of the intangible asset, its commercial potential, and the scope of use, ranging from modest licensing fees to multimillion-dollar agreements for high-value patents or franchise rights. Long-term contracts with performance-based milestones are common to ensure ongoing compliance and value realization.
Details for NAICS 533110
Explore the hierarchy and related codes for this industry
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