In the interest of this licensing agreement, net profits are considered to be the total gains grantee made over the life of the agreement by making use of Grantor`s ownership after payment of the following taxes: Use the form below to download a standard license agreement from the RoyaltyRange database. In the event of non-compliance with this agreement, Grantor undertakes to compensate Grantee for any losses, damages or injuries. This license agreement and all the attachments are, for all reasons, the entire agreement for the listed real estate. A royalty is compensation that grantor receives from Grantee in return for the use of its property. The licence fee could be an amount per unit sold, a percentage of the profits generated by grantee`s use of the property, a pre-paid lump sum or a combination of all three of these options. All notifications regarding this license agreement are sent either in person, by mail or by legal mail, to the addresses listed below: none of the parties participating in this licensing agreement are assigned tasks without notice or authorization. PandaTip: The section below of the licensing model contains documentation of all the responsibilities and guarantees that the donor can provide during the term of the contract. As such, it decided to enter into an agreement with HeadSoundz, a manufacturer specializing in the manufacture and sale of audio equipment. To do this, PhoneMe must grant rights to its brand, trade name and brand on HeadSoundz, so that HeadSoundz can use PhoneMe`s unique branding on headphones, packaging and marketing. Both parties enter into a licensing agreement. Both sign a licensing agreement confirming that HeadSoundz PhoneMe will pay a royalty rate of 5% of net sales on a quarterly basis, in exchange for the use of the PhoneMe brand, trade name and brand for a period of 3 years.
The agreement allows, initially, the contracting parties to provide important credentials, including their primary names and addresses. If one of the parties is a business, it can also indicate the representative who will sign the agreement on behalf of the company. The agreement then describes the intellectual property that is the subject of the agreement in as much detail as possible, including when and by whom Grantor originally obtained property rights from a public authority such as the United States Patent and Trademark Office. The agreement then describes the length of the stockholder`s authorization to use the property, whether for a specified period of time. B several months, days or years, or until a particular event occurs, such as grantee. B, which derives some benefit from the use of the property. Finally, and most importantly, the agreement describes in detail how the royalties paid to the recipient are structured, including the form of these payments, whether there is a minimum amount of payment of royalties payable under this agreement and all the late commissions that the recipient must pay if he does not hand over the royalties as agreed. Any party may request the termination of this contract at any time during this agreement, by written notification. PandaTip: In the “Complete Agreement” section, the proposal states that this agreement is considered to be the only royalty payment agreement for listed real estate. Other promises or agreements that are not documented here are not considered valid. PandaTip: Just as grantor can list all insurance and coverage in the above section, a similar section is made available to Grantee in the royalty agreement model below.
Here is a disguised example of a situation in which it is a licensing agreement: PandaTip: the termination clause contained in the license agreement model contains documentation of all reasons for termination as well as the time frame for such termination.