Licensing Agreement For Use Of Name

A license agreement is a favorable agreement between two parties, the licensor and the licensee. In a typical license agreement, the licensor grants the licensee the right to manufacture and sell goods, to enforce a trademark or mark, or to use a patented technology of the licensor. In return, the licensee generally submits to a number of conditions relating to the use of the licensor`s property and undertakes to make payments called royalties. Another important element of a licensing agreement sets the timing of the agreement. Many licensors insist on a strict market release date for products licensed to external manufacturers. Finally, it is not in the best interests of the licensor to grant a license to a company that never markets the product. The license agreement also contains provisions relating to the duration of the contract, renewal options and termination conditions. The benefits of licensing can be viewed from two angles: licensors and licensees. The license agreement should contain a language dealing with the issue of property disputes.

What happens, for example, if someone challenges ownership of a trademark you have licensed? Or if someone plagiarized the copyrighted work, which is licensed? Both parties to the licensing agreement should agree on how to deal with these issues. Sub-arrangements. As part of the license agreement, there may be sub-agreements, as with other types of contracts. For example, the licensor may require a confidentiality agreement to prevent the licensee from passing on proprietary product features or processes to others. The licensee may require the licensor to sign a non-compete clause in order to prevent the licensor from breaking the agreement by allowing someone else to sell the product in the licensee`s exclusive territory. Non-competition. The licensor undertakes not to allow anyone to compete with the licence in the area and period specified in the agreement. that are distributed to someone to operate a business using a common brand, a common operating support system, and the payment of upfront and/or on-the-going fees. The licensing agreement allowed Starbucks to increase brand awareness outside of its North American operations through Nestlé`s distribution channels. For Nestlé, the company has had access to Starbucks products and a strong brand imageBrand EquityIn marketing, brand value relates to the value of a brand and is determined by the consumer`s perception of the brand. . .

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