Revise writing in the Trademark License Agreement

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How to Revise writing in the Trademark License Agreement

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[Morris] Hi, Im trademark attorney Morris Turek. I protect individuals and businesses throughout the world by assisting them with their important trademark matters. Im commonly asked by both current and prospective clients whether they can allow someone else to use their trademark. Well, the answer is yes. A trademark license is basically an agreement whereby a trademark owner permits someone else to use the owners trademark in connection with specific products or services. Although a trademark license isnt required to be in writing to be enforceable, its strongly recommended that all trademark licenses be memorialized in a written and signed document. Although the terms of every trademark license are different and may be freely negotiated, all licenses must include certain provisions to be valid. For instance, the license must set forth the names of the parties agreeing to the license, a clear description of the trademark being licensed, the types of products or services that the

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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 are the benefits of trademark licensing?

Increase profit without cost risk: You can earn royalties without investing any money into the production, marketing or distribution of the goods. Increase brand recognition: If you are not already a big name in your industry, youll benefit from more people seeing your licensed merchandise.

Which is an example of a licensed product?

Accessories such as hats, ties, and the like are regularly made by licensees, as are home products, footwear, fragrance, eyewear, and many others. Other major players in the product licensing world are media and gaming properties, professional and collegiate sports teams, and food and beverage companies.

Can trademark license agreements may be written or oral?

A trademark license is a permit to use anothers mark. It gives you the right to do something that would otherwise be infringing activity. A trademark license can be oral; however, it is better to get the agreement in writing and signed by both parties in order to avoid potential problems down the road.

What are examples of company licensing?

Licensing agreements generate revenues, called royalties, earned by a company for allowing its copyrighted or patented material to be used by another company. Some examples of things that may be licensed include songs, sports team logos, intellectual property, software, and technology.

What is trademark licensing examples?

What is Trademark Licensing? 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.

How does trademark licensing work?

What is trademark licensing? In trademark licensing, a trademark owner (Licensor) grants permission to another (Licensee) to use that trademark on mutually agreed terms and conditions. Trademark licensing was considered impossible at one time given that one of the functions of a trademark was to indicate source.

What is a trademark licensing?

What is trademark licensing? (1) Definition. In trademark licensing, a trademark owner (Licensor) grants permission to another (Licensee) to use that trademark on mutually agreed terms and conditions.

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