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The Ins and Outs of contracts

Posted on March 1, 2021 in Firm News

The Art of Licensing Contracts

 

Contracts are everywhere. For example, if you want to use someone’s property or their business name, you will need to do a Licensing contract. There will be two parties in this contract, The Licensee and the Licenser. The Licenser is the owner of the asset that the Licensee wants to use.

The Licenser and Licensee will come to an agreement about what the Licensee will use and how the Licenser will receive payment. The payment that the Licenser receives is called a royalty fee. This fee can be calculated in many ways, depending on what the parties to the contract negotiate.

Examples of Licensing contacts are:

Patents

Trademarks

Copyrights

Property

Software

 

The Licenser has invested in the asset listed above and they belong to the Licenser. The Licensing agreement helps the Licenser to protect their assets.

These types of contracts are common in the following industries movie, music, restaurants/fast food , party properties, and design industries. If you have any questions about Licensing Contracts, please contact Ken Ashworth Associates at (702)893-9500.