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A content license agreement is a legal contract between an author (licensor) and another party (licensee) that is put in place when someone wants to license intellectual property (IP) rights.
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.
Most licensing agreements will be valid only for a certain length of time....Scope of the AgreementExclusivity.Territory Rights.Guarantees of Sales.20-Jun-2017
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.
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.
Virtually every type of license agreement includes some form of initial payment and ongoing royalty to the licensor. Royalty formulas vary widely, however. They may be based on gross sales, net sales, net profits, fixed sum per product sold, or a minimum payment to be made to the licensor over a given period of time.
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.
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.
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.
So now let us look at the important clauses needed to draft a content license agreement.Grant of License. This is the most important clause of this content license agreement.Publicity.Term.Confidentiality.Obligations and rights of the parties.Consideration.Termination.Minimum Performance guarantee.More items...?22-Apr-2021