A license only gives one a personal privilege to do something on the land of another. A license is not an interest in land, but is a privilege to do something on the land of another person. Upon the sale of the property, subject to the license, the license terminates unless a new license is executed. This form is an example of such an agreement.
Washington General Form of License Agreement Regarding Right to use Real Property
State:
Multi-State
Control #:
US-00998BG
Format:
Word;
Rich Text
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How to fill out General Form Of License Agreement Regarding Right To Use Real Property?
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Real property includes land; improvements attached to the land, such as buildings, and improvements to the land, such as driveways and utility services.
In a typical licensing agreement, the licensor agrees to provide the licensee with intellectual property rights such as the licensor's technology, brand name, or product creation know-how.
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.
Examples: Apple granting individual computer users a license allowing them to use the Mac operating system and, Spotify granting subscribers a license to listen to music on the Spotify network. The license of a patent where the licensee is granted the right to use a patented process or technology.
A licensing agreement allows one party (the licensee) to use and/or earn revenue from the property of the owner (the licensor). Licensing agreements generate revenues, called royalties, earned by a company for allowing its copyrighted or patented material to be used by another company.
The steps for making a license agreement are as follows: Download a template for a licensing agreement. Choose your role as the licensor or licensee. Define the license(s) in the agreement. Decide whether the license is exclusive or not. Settle the matter of fees and payment schedule. Add a renewal date and rules.