The duration and right to terminate the terms of a trademark licensing agreement are also important, as they give the licensee the opportunity to license the mark for a short period of time to determine whether the commercial relationship is profitable enough to extend for a new term. Similarly, the right to terminate the contract is important to the licensee, as it allows the licensor to terminate the contract immediately after the dementer of the taker or for other offences. In this way, the brand owner can stop the erosion of brand value if a taker does not meet the quality standards that consumers expect from the original supplier of brand-related goods or services. The trademark licence fee is also another key element of the trademark licensing agreement. The more valuable the brand, the higher the royalty for the brand`s licensees. As such, it is not uncommon for licensees to set minimum sales targets or expectations in the licensing agreement. A well-developed trademark licensing agreement will also be specific to how the licensee will be paid, how often payments can be made and the consequences if payment is delayed. A trademark licensing agreement is a legal contract between a trademark holder and another party who have agreed to use the trademark under pre-approved and established conditions between the contracting parties. Overall, licensing agreements are very common, but trademark holders should seek the help of experienced consultants to design clearly defined licensing agreements that protect both the brand`s positive will to use and the licensee`s rights. The geographical scope of a trademark licensing agreement is another important element of a trademark licensing agreement since a licensee can license multiple takers, so it is important that the licensing agreement clearly defines the geographic areas in which the licensee can use the trademark. For example, a licensee may grant trademark rights to different takers based on the continent, state or city in which it is located. This is particularly often the case in franchising agreements, as there may be several overlapping licensees in the same area.
Therefore, the trademark licensing agreement must indicate whether the license is exclusive or not exclusive to the taker and whether the licensee can sublicensing one of the rights granted by the licensee. A trademark assignment is a document used to transfer rights to a trademark (i.e. logo, name or symbol) to a new owner, creditor or even in the context of the liquidation of other contractual negotiations. An assignment may either have all the rights attached to a trademark or be limited in one way or another. An experienced trademark lawyer can probably provide useful information about trademark licensing conditions.
Comments
Powered by Facebook Comments
