What is the difference between a trademark and a license?
A trademark is any name, sign, symbol, logo, colour, sound, or thing that distinguishes or identifies the source of a product (goods or services) from that of a competitor. [ii] On the other hand, a licence is the permission to do something which would otherwise be unlawful.
What is an example of a trademark license?
Examples of trademark licensing include a sports team that licenses its logo to third-party merchandisers, a popular cartoon character used on clothing produced by third parties, or a soft drink company allowing a licensee to sell branded products.
What does it mean to license a trademark?
In trademark licensing, a trademark owner (Licensor) grants permission to another (Licensee) to use that trademark on mutually agreed terms and conditions.
What is the difference between trademark and trademark license?
A licensed mark is a trademark that a franchisee, or other licensee, has obtained the right to display for a certain period of time. The licensee doesnt own the trademark, but the trademark owner has granted him the right to display the trademark for a limited time, and subject to certain conditions.
What are the 3 Ps of licensing?
Some advantages of software licensing include the 3 Ps of licensing: portability, piracy, and profitability.
What is an example of a licensed trademark?
Examples of trademark licensing include a sports team that licenses its logo to third-party merchandisers, a popular cartoon character used on clothing produced by third parties, or a soft drink company allowing a licensee to sell branded products.
What are the key terms of trademark license agreement?
One of the most important terms is the quality control provision to protect the goodwill of the trademark rights; Other key terms include definitions, geographic scope, time limitation/license duration, royalty rate, and general contractual terms; and.
What is the relationship between trademarks and licensing?
A trademark license is an agreement between the trademark owner (the licensor) and another party (the licensee), in which the licensor permits the licensee to use the licensors trademark. In other words, a license gives the licensee permission to do something the law would not otherwise allow.
What is a trademark license fee?
Trademark licensing royalty rates are payments made by a licensee to a licensor in exchange for the use of their trademark. For example, a fashion brand like Louis Vuitton might license their trademark LV monogram to a sunglasses company, who will produce sunglasses bearing this distinctive mark.
Do trademark licenses have to be in writing?
A trademark licensing agreement does not need to be written down to be legally enforceable, but a simple word-of-mouth licensing agreement is much more challenging to enforce. For this reason, it is highly recommended that a written agreement is created and signed by both the licensor and the licensee.