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One of the most lucrative types of business relationships today is one between a licensee and a licensor....Scope of the AgreementExclusivity.Territory Rights.Guarantees of Sales.
You should include clauses such as the term of the agreement, whether the agreement is revocable or irrevocable, whether the licence is exclusive and what the licence fees will be.
A standard license agreement is a contract between the licensor and licensee that grants the licensee permission to use an entity's intellectual property. It can grant licensee rights to use for a specific time period, or grant licensee unlimited access with certain limitations.
Precisely identifying which intellectual property will be the subject of the license is necessary to ensure both parties are on the same page and not exceeding their rights.Scope of the Grant.Exclusivity.Territory.Term.Compensation.Termination.Conclusion.
An End-User License Agreement normally includes:Vendor details (name and address)Software title.License terms (terms of use, restrictions, and maintenance and support details, if applicable)A refund policy (if applicable)
Practitioners and licensing executives often refer to three basic types of voluntary licenses: non-exclusive, sole, and exclusive. A non-exclusive licence allows the licensor to retain the right to use the licensed property and the right to grant additional licenses to third parties.
A licensing agreement allows one party (the licensee) to use and/or earn revenue from the property of the owner (the licensor). Licensing agreements generate revenues, called royalties, earned by a company for allowing its copyrighted or patented material to be used by another company.
How to decide between types of licensing agreementsPatent Licensing. Patents cover science and innovation.Trademark Licensing. Trademarks are signifiers of commercial source, namely, brand names and logos or slogans.Copyright Licensing.Trade Secret Licensing.Exclusive.Non-exclusive.Sole.Perpetual.More items...?