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Example
Adidas Company has a lot of sports clothing and Trinity College School (TCS) wanted to use their clothing for all of our sports teams. Adidas had to give the school a license in order for us to order and use there product for all of our clothes.
In this scenario, Trinity College School would be the Licensee and Adidas would be the Licensor.
Disadvantages
Advantages
-Easy introduction into
foreign markets.
- There are less legal risks.
-You will have a lower level of control.
-Your licensee can become your competitor.
- You can lose intellectual property.
What we need to clarify
-Who is entitled to exercise rights?
-What property is being licensed?
-What is the licensee allowed to do with
subject matter?
Licensing Agreements
What happens in a licensing agreement?
A licensing agreement is a legal contract between two parties, known as the licensor and the licensee.
In a normal licensing agreement, the licensor grants the licensee the right to produce and sell goods, apply a brand name or trademark, or use patented technology owned by the licensor. In exchange, the licensee usually submits to a series of conditions regarding the use of the licensor's property and agrees to make payments known as royalties.
Licensor vs Licensee
The licensor is the person,company, etc that grants the license while the licensee is a person, company, etc that receives the license.