Which Of The Following Is Characteristic Of Exclusive Licensing Agreements

A license agreement, also known as a license agreement, is a legally binding agreement between two parties that allows one party to use the other party`s intellectual property, such as a patent, trademark, or copyright. As a general rule, but not always, the party authorized by the owner of the intellectual property pays the privilege of this right, either by an initial payment or by royalty payments for the duration of the agreement on the basis of a percentage of sales. To schedule a consultation on your IP license, call our office at 407-660-2964, contact us online or email us at contact@brewerlong.com. An important point in the examination of an exclusive license agreement is the parameters of what exclusive rights entail. In some cases, licensors use warranties as the basis for renewing a license agreement. If the licensee achieves the minimum turnover, the contract is extended; otherwise, licensor has the option to terminate the relationship. Christian, Glynna K. “Joint Ventures: Understanding Licensing Issues.” The License Journal. October 2005.

Another question to be determined is whether the rights are completely exclusive or co-exclusive. A contract is co-exclusive if the licensor establishes exclusive rights to the property, with the exception of its own right to use the property at its own discretion. .

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