A licensing agreement form is a document created between a licensor and licensee whereby the latter applies for a license from the former for which the company has to pay an amount of money as royalty to the licensor. There are different type of items, services or ideas both tangible and intangible, for which one creates a licensing agreement.
You can Download the Licensing Agreement Form Template, customize it according to your needs, and Print it. Licensing Agreement Form Template is either in MS Word or Editable PDF.
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features
Parties Involved:
Identifies the licensor and licensee, with their names and addresses.
Grant of License:
Specifies the type of intellectual property licensed (e.g., trademark, copyright, patent) and also the scope of the license (e.g., exclusive, non-exclusive).
Term and Territory:
Defines the duration of the agreement and also the geographic area where the license is valid.
Royalty Payments:
Outlines the royalty payment terms, including the amount of royalties to be paid, the frequency of payments, and the method of calculation.
Restrictions and Warranties:
May include limitations on the licensee’s use of the IP and guarantees from the licensor regarding the ownership and quality of the IP.
Termination Clause:
Specifies the conditions under which the agreement can be terminated by either party.
Signatures:
A designated space for both the licensor and licensee to sign the agreement.
Benefits
Clarity and Comprehensiveness:
The template helps ensure that all the important aspects of the licensing agreement are addressed in a clear and also concise manner.
Efficiency:
Using a template can save time and also effort compared to drafting a licensing agreement from scratch.
Standardization:
Templates promote consistency in the way licensing agreements are structured.
Protection of Interests:
A well-drafted licensing agreement help protect the interests of both the licensor and also the licensee.
