Trade Mark Licence
A trade mark licence agreement is a legal document that grants a licensee the right to sell products that are covered by a registered trade mark. The agreement is drafted in favour of the licensor.
What to watch out for
Make sure that the agreement clearly sets out the scope of the license, including what products are covered and any geographical restrictions. Make sure that the agreement sets out the terms of the license, including how long it will last, whether it is exclusive or nonexclusive, and any other conditions or restrictions. Make sure that the agreement sets out the licensor's rights and obligations, including the right to approve the use of the trade mark and the obligation to ensure that the trade mark is used in accordance with the agreement. Make sure that the agreement sets out the licensee's rights and obligations, including the obligation to use the trade mark in accordance with the agreement and the obligation to pay any fees or royalties due to the licensor.