TRADEMARK LICENSE AGREEMENT
A trademark license is an agreement between a trademark owner (the "licensor") and another person or business entity (the "licensee") in which the licensor gives permission to the licensee to use its trademark or trademarks for an agreed purpose. A trademark license agreement essentially spells out the parties names, identification of the trademark or trademarks that are the subject of the agreement, the specific trademark right or rights to be licensed, including the geographic territory in which the marks are being licensed, the authorized purposes, the licensing fee or royalty applicable and the nature and quality of the goods and/or services with which the licensee may use the trademark.
Trademark License Agreement
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TRADEMARK LICENSE AGREEMENT
THIS TRADEMARK LICENSE AGREEMENT is 200_(hereinafter the "Effective Date") by and between:
effective
as
of
____________,
________________, a corporation organized and existing under the laws of the State of _______________, located at ___________________ (hereinafter referred to as " Licensor"), and ______________________, a corporation organized and existing under the laws of the State of _________________, located at ___________________________ hereinafter referred to as " Licensee").
WHEREAS, A. Licensor is the legal owner of the right, title, interest and goodwill in the trade mark set out in Schedule 1 “Trade Mark”; B. The Licensee desires to use the Trade Mark upon or in relation to the manufacture, production, and sale of Products, as set forth in the Schedule 2 (“Products”); C. In consideration of the payments set out in this Agreement Licensor has authorized the Licensee to use the Trade Mark on the terms and conditions contained herein (“License”). NOW, THEREFORE, in consideration of the foregoing and of the mutual promises hereinafter set forth, the parties agree as follows:
1.
Appointment of Licensee
1.1. Subject to the terms of this Agreement, the Licensor grants to the Licensee for the Term a non-exclusive, non-assignable License to use the Trade Mark in the Territory as set forth in Schedule 3 upon or in relation to the Products. 1.2. If the Licensee wishes to amend the list of Products, it will submit to the Licensor for consideration a revised Schedule 2 item, and Licensor will advise the Licensee whether it gives its consent to the amendment. The Licensor‟s consent will not be unreasonably withheld. 1.3. The Licensor retains the right to sell their own product online or to other retailers without any conflicts with another mass retailer. Licensee agrees that such as an initiative shall not hinder Licensee‟s revenues.
Trademark License Agreement
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1.4. As a condition to this Agreement, Licensee must use and display the Licensor logo (“Logo”) as a part of their design in each piece or unit or Product produced during the terms of this Agreement. 2. Term
The term of this Agreement is commences of the Effective Date and shall continue with full effect till __years. If either party wishes to extend the term, such a party must notify the other in writing 30 (thirty) days in prior to termination of this Agreement. 3. Royalty Payments
3.1. In consideration of the License, the Licensee must pay Licensor___ % as “Royalty” on the retail price for all Products of Licensee used with the Licensor Trademark and logo in accordance with payment terms specified below. Retail prices of the Product, for the time being, are set forth in Schedule 3 attached hereto. Licensee must notify within 1 (one) day after any changes of retail prices and such a change must be recorded in an amendment of the Schedule 3. (Royalty payments may be charged over Gross sales or Net sales) 3.2. Licensee agrees to pay to the Licensor Royalty payments for a particular month directly to the Licensor's bank account on or before the 10th of the subsequent month along with full sales report on gross sales less returns. (Add other terms of payment if applicable or for varying terms of payment add a schedule)
4.
Audit Of Stock Or Revenue
4.1 Licensee shall provide Licensor with a written statement of Licensee‟s stock and Net Sales during such quarterly peri