North Carolina Merchandising License Agreement

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Multi-State
Control #:
US-1031BG
Format:
Word; 
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Description

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. These agreements can vary in length and complexity and can be as broad or as limiting as the owner of the property desires. Among the issues addressed in a merchandising license agreement are the types of rights allowed, what products the license covers, the duration of the agreement, and compensation and payment terms. In most cases, the owner of the merchandise, identified in an agreement as the licensor, receives an advance payment at the time the agreement is signed and royalty payments based on a percentage of merchandise sales throughout the period the agreement is in effect. The agreement also addresses the obligations of the licensee. In addition to payment terms, these can include responsibility to make a good faith effort to sell the licensed products. Should the licensee fail to meet their obligations, the licensor has the right to terminate the agreement. This action is typically avoided at all costs, however, since the termination of a merchandising license agreement can result in a loss of income and missed opportunities to capitalize on the property by the licensor, and the waste of an often-substantial investment by the licensee.
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FAQ

The University of North Carolina football team changed its name from the White Phantoms to the Tar Heels in the 1920s, and all of the university's sports teams came to bear the moniker. The term-often erroneously rendered as one word, "tarheel"-is the standard nickname for North Carolina and North Carolinians alike.

The words North Carolina, Carolina and Tar Heels are trademarked by the University, but these are common words.

Avenir. The typeface Avenir has been chosen to be the lead with all brand messaging for UNC Research including headlines and display copy. This has been carefully selected to best represent the brand image and must be used to retain consistency.

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.

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.

What is the correct spelling of Tar Heel? UNC spells "Tar Heel" as two words. "Tarheel" is incorrect.

Licensed Merchandise means any goods or services bearing the Institution Trademarks or otherwise designated as licensed by the Institution's Office of Trademark Management and Licensing.

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.

For nearly 70 years the mascot of North Carolina's football team has been a ram. Since Carolina's nickname is Tar Heels, it might seem strange to have a ram as a mascot. It is.

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North Carolina Merchandising License Agreement