Utah Exclusive Trademark License Agreement
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How to fill out Exclusive Trademark License Agreement?
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FAQ
An exclusivity clause limits licenses, distribution rights, and other rights to specific parties. It grants to that party only the rights outlined in the contract and further limits how that party may use the rights they were given. These clauses often appear in contracts, including: Intellectual property agreements.
Generally, the difference between the two is that licenses allow a copyright owner to retain the rights while giving someone else a right to exercise some of them, whereas an assignment results in a copyright owner losing control over the work.
3. Trademark license agreement instructions Introduction of Parties. ... Recitals. ... Section 1: Grant of license. ... Section 2: No assignment or transfer. ... (Optional) Section 3: Territory. ... Section 4: Consideration. ... Section 5: Maintenance of records and audit rights. ... Section 6: Term.
Exclusive license allows a licensor to share intellectual property with a licensee for a specific period of time that usually binds the licensor to not share the property with anyone else.
An Exclusive Licence means that no person or company other than the named licensee can exploit the relevant intellectual property rights. Importantly, the licensor is also excluded from exploiting the intellectual property rights.
A licensed mark is a trademark that a franchisee, or other licensee, has obtained the right to display for a certain period of time. The licensee doesn't own the trademark, but the trademark owner has granted him the right to display the trademark for a limited time, and subject to certain conditions.
An example of a licensing agreement in the restaurant space would be when a McDonald's franchisee has a licensing agreement with the McDonald's Corporation that lets them use the company's branding and marketing materials.
In an exclusive license, only the licensee has the right to make use of the intellectual property. By contrast, in a sole license, the licensor agrees not to grant any additional licenses but retains the right to make use of the intellectual property.