Utah Trade Secrets License Agreement and Assignment between Licensor and Licensee
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FAQ
The definition of a licensor is a party or entity that grants a license to someone else. The DMV is an example of a licensor. One who grants a license. (law) A party that grants a license to another.
Summary. A licensing agreement is a contract between a licensor and licensee in which the licensee gains access to the licensor's intellectual property. The party providing the intellectual property is called the licensor while the party receiving the intellectual property is called the licensee.
In particular, a licensee's rights are generally not assignable unless the license agreement expressly permits assignment or the licensor otherwise consents.
The licensee is, therefore, entitled to stock the shop with his choice of brands but he does not have the right to alter the intended intent, retain any consumer of his choosing and to set the price/conditions for his products. He can also lock the shop and open it whenever he wants at the end of business hours.
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.
A licensee is any business, organization, or individual that has been granted legal permission by another entity to engage in an activity. The permission, or license, can be given on an express or implied basis.
Approve prospective licensees. Approve licensed products, packaging, marketing and collateral materials. Provide access to licensable assets and/or develop style guide. Register trademarks in appropriate categories.
WHAT IS THE DIFFERENCE BETWEEN ASSIGNMENT AND A LICENSE? The main difference between the two is that in a license the person granting permission (Licensor) retains an interest in the property being licensed, whereas in an assignment the assignor transfers his rights in the property being assigned.
In particular, a licensee's rights are generally not assignable unless the license agreement expressly permits assignment or the licensor otherwise consents.
A licensing agreement is a partnership between an intellectual property rights owner, known as the licensor, and another who is authorised to use such rights, known as the licensee, in exchange for an agreed payment, known as royalty1. There is no transfer of ownership involved.
