What Are the Key Elements of a Trademark License Agreement?
A comprehensive trademark license agreement typically includes:
Grant of License: Detailed description of the rights granted to the licensee, including the scope and limitations. Territory: Geographic area where the licensee can use the trademark. Term: Duration of the licensing agreement. Royalty and Payment Terms: Financial arrangements such as upfront fees, royalties, and payment schedules. Quality Control: Standards and procedures to ensure that the licensee maintains the quality associated with the trademark. Termination Clauses: Conditions under which the agreement can be terminated.