Aspects Of Licensing Agreement

For example, a retailer could enter into an agreement with a professional sports team to develop, produce and sell merchandise bearing the sports team`s logo. Or a small manufacturer may allow a production technology owned by a larger company to gain a competitive advantage instead of having to spend time and money developing its own technology. Or a greeting card company could agree with a movie distribution to produce a series of greeting cards with the image of a popular animated character. In the event of a major disagreement on the terms of an agreement, the parties may wish the case to be preceded by arbitration. Arbitration proceedings can be carried out in several different ways and it is easier to define in the agreement the rules to be used for arbitration before there is a problem to be resolved. A checklist that helps with the negotiation of a license agreement, let alone the actual preparation and letter of the agreement itself, may seem like a simplified tool for an experienced negotiator or contract lawyer. After all, most people in these positions are well trained and used to managing several projects that have a lot of details in the fields of science, law and economics at the same time. If they did not have the competence to deal with this type of work situation, they would not last long in an active and high-pressure licensing environment. But it is precisely because of the countless details that a checklist can save lives (or business) for the licensing agent or lawyer who works. .

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