Rhode Island Royalty Free Trademark License Agreement to license a joint venture participant's trademarks to the joint venture
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How to fill out Royalty Free Trademark License Agreement To License A Joint Venture Participant's Trademarks To The Joint Venture?
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FAQ
A trademark is a word, phrase, symbol, or design that identifies and distinguishes the goods and services of one company from those of another. A trademark license is one way to transfer the use of a trademark or service mark from its owner (the licensor) to another party (the licensee).
The licensor and licensee will agree a trademark royalty rate in the licensing agreement. A trademark royalty rate is usually a percentage of sales generated from the use of the trademark ? for example, 5% of gross or net revenue, paid quarterly.
How is licensing different from sponsorship? Licensing is not sponsorship because sponsorship agreements are merely paid affiliations between teams, events, and companies, while licensing agreements are about the paid usage of trademarked property.
While others prefer to receive a percentage of gross revenue earned by the company that is using their trademark. Depending on the perceived value of your trademark, this licensing fee can range from a few hundred dollars to several thousands.
License Agreement Tips Firmly establish ownership. A good contract should clearly state what rights are being granted pertaining to the intellectual property in question. ... Do not overlook definitions. ... Define the royalty system. ... Explain the quality assurance monitoring process. ... Be aware of government regulations.
A trademark license agreement allows the licensee to use (but not own) the licensor's trademark in connection with agreed-on products or services. Licensing can help a company expand into new markets effectively and easily while lending the licensee an established name and reputation.