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. Ask for a lawyer who has expertise in licensing agreements. These agreements are complex and specific to each situation. Many lawyers know how to create a general contract, but they may not know the details of licensing agreements. An IP lawyer could be a good start. 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. 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. In addition to the details of all parties, license agreements set out in detail how authorized parties may use properties, including the following settings: To view standard confidentiality agreements, material transfer agreements, or research cooperation agreements, please return to our site. For a company that has a great product but isn`t able to make it, licensing is a great way to bring that product to market. Entrepreneur says that licensing the possibilities of commercializing a product “offers the greatest potential return on investment and has the greatest chance of success.” 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. . .