Licensing Agreement

A licensing agreement is a legal document that allows one person or company (licensor) to authorize another person or company (licensee) to sell or distribute goods based on the ownership rights of the trademark.

 

What clauses to include into a licensing agreement?

 

A licensing agreement should include details on how the license is granted (usually granted for a specific product and sometimes a specific time frame), if gratis products or services are provided, who owns the license if it is terminated, payments, and sanctions if the contract is violated.

 

How to deal with termination of a licensing agreement?

 

Usually agreed in the contract when it will be terminated, but if it is not, it should be terminated by the licensee with nonrenewal or allowing the license to expire and if the licensee wants to renew the license, they must negotiate a renewing price.

 

What are the kinds of sanctions that a licensee might impose on another?

 

The sanctions of a licensee might include a termination of the license, or a monetary penalty.

 

We can help with both reviewing and amending an existing agreement and drafting a new one. To get a quote, simply click here.

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