Tips and Guidelines How to Write Trademark License Agreement Templates
Trademark licensing is a process of a registered trademark owner (licensor) where he or she lets another party (licensee) to make & distribute specific services or products under the trademark agreement of the licensor. Now, let’s see the following trademark license agreement templates in this article.
How to Create a Trademark License Agreement Template
A trade license agreement template should contain some parts. First, it includes the legal names of both parties. In this case, they are licensor & licensee. After providing their names, you will have to include the business structures of both parties in this agreement.
Then, what you need to state is the type of license. There are 3 types of license. They are exclusive license, sole license, and non-exclusive license. It must be stated clearly in the agreement. Next, the services or products should also be described as clear & detail as possible.
Geographic territory where it may operate & sell the services or products should be explained in the agreement, too. It is also important to include quality control provisions. It defines the standard about the licensed services or products’ nature & quality. It is the most important part of the agreement.
The payment details are also very important. So, you cannot forget including these details in the agreement. Another element that you should include in this agreement is the date it will start & the date it will last. Make sure that your agreement contains all of these important parts.
To improve this agreement, you may need to add some provisions for both parties. The provisions may include the following details. The licensor is going to approve the advertising & promotional materials before the marketing contents are distributed. Besides that, both parties can also renew it in the future.
Then, it must be clear the specific conditions where both parties can apply renewal. In addition, the license is not going to be shared with the outside individual or even sold to an assignee whether it is in the United States or other countries around the world. Just state it with understandable language.
The provisions should also state that the license is going to last for a period of time. Both parties have to know about it clearly. In this agreement, it must also be explained that both parties have specific responsibilities when this trademark licensing agreement ends or lasts.
If one party breaks the license agreement, there should be penalties. The penalties must be explained as detailed as possible whereas he must pay some money or it must end in the court. Any breach has to be remedied in the specific time frame. Make sure that these provisions are included wholly.
Trademark license agreement templates can be so long & complex. Even more, it can reach 100 pages especially if it has multiple marks, financial provisions, geographic locations and products. If you need some samples, you can look for it easily on internet. Hopefully it will be a useful reference.
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