Trademark being a Intellectual property and also recognized as movable property can be licensed to any entity. Trademark Licensing is important subject from the point of view of evidence as well as from an angle of protection of trademark.
Lets understand the important terms.
Licensor is the proprietor or Owner of the Trademark. Licensee is an entity to whom License to use the trademark is granted. License Fee is the consideration payable by the Licensee to Licensor for use of Licensed trademark.
Majorly, Trademark Licensing is done on mass scale by large corporates as they conduct its business through various web of companies. It must be kept in mind that, Trademark Licensing is not a subject only for the large corporates. It must be undertaken even by small and medium enterprise as they take further steps in growth of their business.
Licensing of Trademark is only a process through which legal right to use the trademark is granted subject such terms and conditions as contained in the Licensing Trademark.
Drafting and execution of Licensing Trademark is important as any loopholes in the agreement may grant exclusive right to the Licensee to use the trademark beyond the intended period. Some of the basic provisions which must find place in the Licensing Agreement can be summarized as follows:
1.Term of License
2.Exclusive or Non Exclusive grant of License
3.Non Compete Clause
4.Restriction to adopt mark deceptively or phonetically similar mark
6.Payment of Stamp Duty
7.Event of termination of License Agreement
Just Trademarks accepts assignment of Licensing of Trademark. We would be happy to hear at firstname.lastname@example.org