Determine the property first. If you sell or purchase a license for a product, make sure that ownership of that product is clearly stated in the agreement. Also, make sure that no one else is using the asset (for example. B a trademark) and obtain that the trademark is registered or the registration of a copyright. You don`t want to get into a license agreement and find out that someone else is questioning the property. An example of a licensing agreement in the restaurant sector would be for a McDonald`s franchisee to have entered into a licensing agreement with McDonald`s Corporation allowing them to use the company`s branded and marketing materials. And toy makers regularly sign licensing agreements with movie studios that give them the legal power to produce action characters based on popular similarities of movie characters. Most licensing agreements also address quality. For example, the licensor may include in the contract conditions obliging the licensee to provide product prototypes, packaging models and even occasional samples for the duration of the contract. Of course, the best form of quality control is usually carried out before the fact – carefully checking the reputation of the licensee. Another common quality regime in licensing agreements concerns the method of disposal of unsold goods. If the remaining items in stock are sold as cheap knockoffs, this can damage the licensor`s reputation in the market. On the License Agreement Templates for Digital Resources Abroad, Qiong, T.
(2011). Information and Documentation Services, 32 (5), 41-44. The document focuses on how the overseas license agreement submissions have been used by different digital resources. The digital resources resulted in the provision of relevant information and documentation services necessary during the licensor`s agreement with the licensee. The New New World: Virtual Property and the End User License Agreement, Kayser, J. J. (2006). Loy.
THE Ent. L. Rev., 27, 59. The author of this article examines how the license agreement can benefit the last person who puts the property into operation. This happens after one party has authorized the other interested party to use its assets. If someone has a franchise, there may be a license agreement and there may be several types of licenses within the franchise. For example, a McDonald`s franchise could contain licenses to use the McDonald`s logo on products and packaging, as well as another license to manufacture its patented processes or components. Subsidiary license.
The licensee may be granted the right to authorize another person to manufacture or sell his products. This depends on the specific terms of the license agreement. Facilitating the commercialization of university innovation: The Carolina express license agreement, DeSimone, J.M., &Mitchell, L. (2010). This article discusses how economic growth in the United States of America could be increased after the severe recession of the 1930s, by inventing ways to create more jobs and promote innovation in the United States. . . .