Mississippi Merchandising License Agreement
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How to fill out Merchandising License Agreement?
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FAQ
A licensing agreement is a contract between two parties (the licensor and licensee) in which the licensor grants the licensee the right to use the brand name, trademark, patented technology, or ability to produce and sell goods owned by the licensor.
Examples of licenses include a company using the design of a popular character, e.g. Mickey Mouse, on their products. Another example would be a clothing manufacturer like Life is Good licensing its designs and brand in a certain country to a local company.
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.
Types of licensing agreement The unique feature of this type of agreement is that even the licensor is excluded to use or exploit the licensed property during the term of the agreement. Copyright, trademark and patent licenses are the best examples of an exclusive license agreement.
A merchandising agreement is a legal contract between two parties in which the first party agrees to sell specific goods or services to the second party. In this case, "merchandise" refers not only to physical items but also intangible products such as intellectual property.
To expand trademark rights, the owner can register the trademark with either the state or federal government, or both. State registration is typically done through the secretary of state's office and provides the owner with the right to exclusive use of the trademark throughout the state.
The contract stipulates the type of agreement, the length of the relationship, payments and royalties that are due and when, and the extent to which licensing is allowed. Licensing also allows both parties to retain control over certain facets of the deal, including exclusivity and how a product or service is marketed.
A product (or merchandise) license allows licensees to leverage popular IP to create branded products, usually for a specific period of time. Once the rights have been secured, the licensee manufactures product using the licensed IP, and in return pays the licensor a royalty for its use.
A merchandise license agreement describes the terms through which the owner of intellectual property, notably in the form of a trademark, service mark or copyright, grants a party, called the licensee, the right to use the property for distribution, marketing, and sale.
Licensing agreements are found in many different industries. An example of a licensing agreement is a contract between the copyright holders of software and another company, allowing the latter to use the computer software for their daily business operations.
