A non-exclusive license grants the Licensee a license to use the IP, but the Licensor is free to also use the IP and to grant licenses to whomever else it wants. Therefore, many parties can hold licenses to the same IP at the same time. A sole license grants the Licensee an exclusive license, but the Licensor keeps the right to use the IP.
So, although the Licensor will not grant any additional licenses, the Licensor can continue to use the IP and any previous licenses can still remain in effect. To create a licensing agreement you can use our document builder to create one in minutes.
Simply fill in the blanks and your license agreement will be ready to go in PDF or Word format. Without this agreement, the owner of valuable IP would not be able to make money on that IP or control how the IP is used out in the world. And individuals and companies that need certain IPs to grow their business or make a living might not be able to have access to it.
Table of Contents What is a Licensing Agreement? As a reference, this agreement is also known by other names: License Agreement Intellectual Property License Agreement Copyright License Agreement Know-How License Agreement Patent License Agreement Patent and Know-How License Agreement Service Mark License Agreement Trade Secret License Agreement Trademark License Agreement Trademark and Service Mark Agreement Elements of a Licensing Agreement A simple Licensing Agreement will identify the following basic elements: Licensor: the person who owns the intellectual property Licensee: the person who wants to use the intellectual property Intellectual Property: the copyright, trademark, patent, or other intellectual property that is the subject of the license Purpose: the purpose for which the Licensee can use the intellectual property Fees: the amount Licensee will be paying to use the intellectual property Term: how long the Licensee can use the intellectual property When is a Licensing Agreement Needed?
Several different types of IP can be covered under this agreement: Copyright: original work of authorship in a written or tangible form Trademark: recognizable symbol, design, word, or phrase that helps users identify goods or products with a particular company Service Mark: recognizable symbol, design, word, or phrase that helps users identify services with a particular company Patent: property right to an invention Know-how: expert skill or information Trade Secret: confidential business information Types of Licensing Agreements There are a few different types of licenses you can grant on the above IP — exclusive, non-exclusive, or sole.
The Licensee shall have the option of preventing the termination of this Agreement by taking corrective action that cures the default, if such corrective action is taken prior to the end of the time period stated above and if there are no other defaults during such time period.
The term "Confidential Information" refers to any information or materials that are proprietary to the Licensor, whether or not owned or developed by the Licensor, and which the Licensee may obtain through any direct or indirect contact with the Licensor or the Authored Works. Regardless of whether specifically identified as confidential or proprietary, Confidential Information" shall include any information provided by the Licensor concerning the business, technology, and information of the Licensor and any third party with which the Licensor deals, including, without limitation, business records and plans, trade secrets, technical data, product ideas, contracts, financial information, pricing structure, discounts, computer programs and listings, source code, object code, copyrights and intellectual property, inventions, sales leads, strategic alliances, partners, and client lists.
The nature of the information and the manner of the disclosure are such that a reasonable person would understand it to be confidential. Any other information that both Parties agree in writing is not confidential.
This Agreement shall be binding on any successors of the Parties. Neither Party shall have the right to assign its interests in this Agreement to any other Party, unless the prior written consent of the other Party is obtained. This Agreement may be terminated by either Party by providing 30 days' written notice to the other Party.
This Agreement contains the entire Agreement between the parties regarding the subject matter of this Agreement, and there are no other promises or conditions in any other Agreement, whether oral or written.
The parties have attempted to limit the non-compete provision so that it applies only to the extent necessary to protect legitimate business and property interests. If any provisions of this Agreement shall be held to be valid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
This Agreement may be modified or amended if and only if the amendment is made in writing and signed by both Parties. Another added advantage of using these agreement templates is the fact that they are not just limited to a computer or a PC, but you can download them on laptops, tablets, smartphones, etc.
You do not have to waste plenty of time and effort in making these agreements from scratch. Download the one you like most and the one that matches your requirements perfectly, add the information that you want and you are good to go.
Happy Editing! If you have any DMCA issues on this post, please contact us! General FAQs 1. What is a License Agreement? An agreement like this grants permission to the licensee and includes all the stipulations. Why do companies use a License Agreement? Companies use license agreements as it is a key mode of entry for firs wh want to expand their business internationally. What are the advantages of using a License Agreement?
There are many advantages to using a license agreement. A license agreement: Reduces risks for all those involved Makes entry into foreign markets easier Creates self-employment opportunities Offers freedom to develop a unique marketing approach Has lows capital requirements Has the potential for large returns and new business opportunities.
How does a License Agreement work?
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