Licensing contracts or licensing agreements
What is a licensing contract or agreement?
A licensing contract, or licensing agreement, is a contract where one party grants another party the right to sell, produce, use, or display protected material such as a copyright, trademark, logo, or patent.
The party that owns the material is called the “licensor”, while the party being granted the license rights is the “licensee.” Licensing contracts usually involve a fee for the use of the protected material. Sometimes, the licensor may exchange another product or services in exchange for the use of the material.
In order to avoid conflicts and breaches of contract, a licensing contract should be written very clearly, and should precisely indicate the intentions of each party.
Should you consult an attorney about your licensing contract?
Licensing contracts can be very complicated because they often cover so many different legal issues. It’s in your best interest to hire an attorney for assistance with negotiation, creating, and reviewing a licensing contract agreement. Your attorney can help ensure that your interests are represented in the agreement.
Further, your attorney can represent you in court if you need to file a lawsuit regarding the licensing agreement.