If you are considering granting your intellectual property or becoming a licensee, you must be familiar with licensing agreements. A company`s licensing agreement is a central element of any licensing agreement and ensures that both parties are properly compensated for their contributions. In this article, we explain what a licensing agreement is and give you an example of when it could be used. At the end of this page, you can download a license agreement so you can see an example of what is included in a license agreement and how it is designed. PandaTip: The area of viability of this proposal covers the procedure for replacing aspects of this agreement deemed illegal or inappropriate by a court. The non-application or non-application of one element of this licensing agreement does not constitute a waiver of another aspect of the agreement. Grantee undertakes to track all products and products and to provide Grantor with a monthly summary of all the above articles, including all royalties due for the month. While Grantor owns and holds the right to grant shares in [Property.Address], Grantee has expressed interest in using the Grantors property for [Time.Period] by paying a portion of Grantees` profits in the form of royalties for the property as well as all agreed lump sums included in this licensing agreement. With the exception of a violation of this agreement, neither party is liable for the violations, losses, damages or costs that may result from third parties in this licensing agreement resulting from the actions of the other parties. As such, it decided to enter into an agreement with HeadSoundz, a manufacturer specializing in the manufacture and sale of audio equipment. To do this, PhoneMe must grant rights to its brand, trade name and brand on HeadSoundz, so that HeadSoundz can use PhoneMe`s unique branding on headphones, packaging and marketing. Both parties enter into a licensing agreement. Both sign a licensing agreement confirming that HeadSoundz PhoneMe will pay a royalty rate of 5% of net sales on a quarterly basis, in exchange for the use of the PhoneMe brand, trade name and brand for a period of 3 years.
None of the parties participating in this licensing agreement are delegated to tasks without prior notification or authorization. A product licensing agreement helps both inventors and product manufacturers. This is a type of agreement that an inventor or creator of a product will use if he is unable or unable to manufacture a product for sale.