Virginia Trademark Assignment and License Agreement

State:
Multi-State
Control #:
US-13387BG
Format:
Word; 
Rich Text
Instant download

Description

A license is a contractual right that gives someone permission to do a certain activity or to use certain property owned by someone else. Licensing agreement is an agreement between two enterprises allowing one to sell the other's property such as products or services.
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FAQ

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.

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 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.

A trademark licensing agreement is a legal contract between a trademark owner and another party that have agreed to use the trademark on preapproved terms decided between the contracting parties.

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.

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.

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.

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.

A trademark licence is an agreement between a trademark owner (the licensor) and another entity (the licensee) in which the licensor permits the licensee to use its trademark for commercial purposes.

Trademark licensing is an agreement in which a registered trademark owner, the licensor, grants another party, the licensee, permission to make and distribute products or services under that trademark.

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Virginia Trademark Assignment and License Agreement