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A trademark license agreement is a legal agreement between the owner of a trademark and the licensee who is granted permission to use the trademark. This agreement sets out the terms and conditions of the license, including the scope of the license, the territory in which the license is valid, the duration of the license, and the royalties or other payments that the licensee must pay to the licensor.
The document begins by defining the parties involved in the agreement. The Licensor, the owner of the trademark, is defined as Party 1, while the Licensee, the party being granted permission to use the trademark, is defined as Party 2.
The agreement defines several terms, including Brand Guidelines, Business Day, exclusive, Licensed Products, Licensed Services, non-exclusive, Net Sales, Royalty, sole, Territory, Term, Trademark Office, and Trademarks.
The grant of license is covered in clause 2, which states that the Licensor grants the Licensee a license to use the Trademarks during the Term in relation to the Licensed Products or Licensed Services in the Territory, with the right to sublicense, subject to the terms of the agreement. The Licensor is also required to take steps to record the license with the relevant registries in the Territory.
Clause 3 covers the maintenance of the Trademarks. The Licensor is required to take all reasonable steps to maintain registrations for the Trademarks in the Territory, while the Licensee is required to provide assistance as needed. If the Licensee wishes to register any of the Trademarks in the Territory, the Licensor may apply to register the trademark on behalf of the Licensee.
Clause 4 covers the payment of royalties. The Licensee must pay the Royalty to the Licensor within a set number of days of the end of each quarter. The amount of the Royalty is a percentage of the Net Sales of the Licensed Products or Licensed Services.
In summary, this trademark license agreement sets out the terms and conditions for the Licensor to grant a license to the Licensee to use the Trademarks. The agreement covers the scope of the license, the territory in which it is valid, the duration of the license, and the royalties or other payments that the Licensee must pay to the Licensor.
If you are looking to use this document, please follow these steps:
1. Familiarize yourself with the parties involved in this agreement. Party 1 is the Licensor, while Party 2 is the Licensee. Make sure you have their full names and addresses.
2. Understand the purpose of the agreement. The Licensor is granting the Licensee a license to use the Trademarks (as defined in the agreement) in exchange for payments from the Licensee.
3. Read and understand the interpretation section of the agreement, which defines important terms used throughout the document.
4. Take note of the license grant provided by the Licensor to the Licensee. The Licensee is granted a license to use the Trademarks on or in relation to the Licensed Products in the Territory, with the right to sub-license.
5. Make sure you understand the Licensor's obligations to maintain the Trademarks and any new trademark applications.
6. Understand the Licensee's obligation to pay the Royalty to the Licensor. The Royalty will be calculated and paid within a set number of days at the end of each quarter.
7. If you want to apply for trademark registration, know that you can ask the Licensor to do so on your behalf, and all reasonable costs will be paid by the Licensor.
8. Keep in mind that this document is legally binding, and both parties must comply with its terms and conditions.
9. Seek legal advice if necessary, especially if you have any questions or concerns about the terms of the agreement.