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An effective licensing agreement is the most effective solution for protecting your intellectual property. A licensing agreement allows owners of intellectual property to authorize third parties to use, alter, or resell the property for a mutually agreed-upon price, without transferring ownership to the third party.
These are some common types of licensing agreements: Trademark license - outlines how you may use a trademark Patent license - outlines your right to sell, use, make distribute and export a product that is patented Copyright license - outlines your right to reproduce and sell copyrighted assets.
For Coca-Cola, the company licenses its brand to companies in each of the categories mentioned above. Licensees "rent" the brand from the owner, but are then expected to use their own expertise, capabilities and resources to innovate, produce, market and sell the officially licensed product.
Example of a Licensing Agreement Nestle (the licensee) agreed to pay $7.15 billion in cash to Starbucks (the licensor) for exclusive rights to sell Starbucks' products (single-serve coffee, teas, bagged beans, etc.) around the world through Nestle's global distribution network.
Which of the following statements BEST describes a licensing agreement? One firm pays a fee for rights to make or sell another company's products.
A license contract, also known as a license agreement or licensing agreement, is a type of contract where one party (the licensor) grants another party (the licensee) the right to produce, use, sell, and/or display the licensor's protected material.
A content licensing agreement allows companies to repurpose or republish material through a legal contract. Often called a copyright license, it's a flexible solution for companies that wish to distribute previously published materials.