In order to extract the most commercial value out of a product or service, you may wish to license others to use your trademark.
This means, that you allow others to use your trademark on certain specified terms and conditions.
This is different to an assignment, which is the transfer of the trademark into someone else’s name entirely, usually if it has been sold.
Licensing is a way to allow others to use the trademark in accordance with specified terms and conditions. These terms may relate to the length of the allowed use, the territory in which it may be used, the purpose for the use, associated costs and any other pertinent terms.
The licence can be either exclusive or non-exclusive.
Licensing your Intellectual Property or trademark allows you to further your market presence without expending significant amounts of capital, and to commercially exploit your IP. This can be particularly helpful if you don’t have the specific skill base, expertise or resources to take your product to the next level.
This easy to use and understand agreement allows a trademark to be used by another party under certain terms and conditions set out in the document.
A licence can be used to in relation to product development, manufacturing, marketing or selling.
Any type of IP can be licensed, whether trademarks, copyright, patents or designs.
Trademark License Agreement
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