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The Meaning Of The Term Licensing Agreement

A licensing agreement is a legal contract between two parties, the licensee and the licensee. In a typical licensing agreement, the donor grants the purchaser the right to manufacture and sell products, apply a brand name or trademark, or use the licensee`s patented technology. In return, the taker generally submits to a number of conditions relating to the use of the licensee`s property and undertakes to publicize the payments in the form of royalties. Partial agreements. In the licensing agreement, as with other types of contracts, there may be sub-agreements. For example, the licensee may require a confidentiality agreement to prevent the licensee from disclosing proprietary product features or processes to others. The taker may require the donor to sign a non-compete agreement to prevent the donor from breaking the agreement by allowing another person to sell the product in the exclusive territory of the taker. Do your due diligence before the agreement. Both parties should carefully consider the other party. Check business credits and continuous management. Ask for a degree.

Visit the offices and production sites of the other company. Try to do it. Technology transfer license agreement for technology development in Indonesia, Mochtar, D.A. (2016). Social Sciences, 11 (24), 5958-5962. This paper discusses technology and its positive contribution to the economic benefits of a country through improved living standards, human dignity and civilization. The author used Indonesia as a case study. The author informs us that each country has obtained its own technology transfer regulations, which depends on how it has made technological progress. Technology transfer should focus on a country`s economic benefits to avoid cases where some countries are still undeveloped despite technological advances. The main concern should be the technology transfer licensing agreement between the technology provider and the final recipient. An example of a very common property contained in licensing agreements is the image of a cinematic superhero. Toy manufacturers will often allow it to sell action characters that are much more likely to be purchased if they are based on a popular superhero.

Another common example is the licensing of a song for an advertising campaign or for use in a movie. In the fast food market, there are a number of franchise-based businesses, where a franchisee holds the rights to the name, products and promotional material of the main company. The term “licence” has two meanings: one in general terms (for example. B driver`s license) and the other in the economy and commerce. A licence in the broadest sense is “the authorization of an authority to own or use something.” Confidentiality agreement. Both parties agree not to disclose trade secrets. When developing the licensing agreement, we should have a lawyer who is talking well with the licensing agreements. These consensuses are generally complex and especially in nature. The use of internet sources is never the appropriate method to develop such agreements. Many supporters know how to develop universal or general contracts, unfortunately they cannot have knowledge of the derivative of a licensing agreement. It may be advisable to start with an intellectual property lawyer.

Most licensing agreements also deal with the issue of quality. For example, the licensee may enter into the contract conditions that require the purchaser to provide prototypes of the product, mockups of the packaging and even occasional samples for the duration of the contract.