The Massachusetts Agreement for Sub-license of Trademark for Use in a Restaurant Business is a legal document that allows a restaurant owner to grant a sub-license for the use of their trademarked name, logo, or branding to another party within the state of Massachusetts. This agreement ensures that the sub-licensee has the right to use the trademark exclusively within a specified geographic area or for a particular period of time. Keywords: Massachusetts, Agreement, Sub-license, Trademark, Restaurant Business Types of Massachusetts Agreement for Sub-license of Trademark for Use in a Restaurant Business: 1. Exclusive Sub-license Agreement: In this type of agreement, the restaurant owner grants the sub-licensee the exclusive right to use the trademark within a specific geographic location. The sub-licensee will have the sole authority to utilize the trademark for their restaurant business in that area, ensuring no other similar establishments can use the same branding. 2. Non-Exclusive Sub-license Agreement: This agreement grants the sub-licensee the right to use the trademark for their restaurant business, but it allows other parties to also use the same trademark within the specified geographic area. The sub-licensee does not have exclusive rights to the branding, enabling multiple restaurants to utilize the trademark simultaneously. 3. Limited Term Sub-license Agreement: This type of agreement provides the sub-licensee with the right to use the trademark for a specific period of time. It could be a fixed duration or renewable term, allowing the sub-licensee to use the branding exclusively for their restaurant business within the defined timeframe. 4. Geographic Restriction Sub-license Agreement: This agreement limits the use of the trademark to a particular geographic area. The sub-licensee has the exclusive right to use the trademarked branding within the specific location, ensuring that no other restaurant within that area can use the same trademark. 5. Branding Guidelines Sub-license Agreement: This agreement outlines the guidelines and restrictions on how the sub-licensee can use the trademarked branding. It includes specifications on the placement, size, color, and other visual elements of the logo or name in order to maintain brand consistency across all sub-licensees. 6. Fee-based Sub-license Agreement: This type of agreement involves the payment of a fee from the sub-licensee to the restaurant owner for the right to use the trademark. The fee can be a one-time payment or recurring based on specific terms outlined in the agreement. 7. Sub-license Agreement Renewal: This agreement allows for the renewal of an existing sub-license agreement for the continued use of the trademark in the restaurant business. It outlines the terms and conditions for renewing the sub-license, including any changes in fees, duration, or geographical restrictions. In summary, the Massachusetts Agreement for Sub-license of Trademark for Use in a Restaurant Business is a legal document that enables the sub-licensee to use the restaurant owner's trademarked name, logo, or branding within a specific geographic area or for a particular period of time. The different types of agreements include exclusive or non-exclusive sub-licenses, limited-term agreements, geographical restrictions, branding guidelines, fee-based agreements, and agreement renewals.
Massachusetts Agreement to Sub-license Trademark for Use in a Restaurant Business
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How to fill out Massachusetts Agreement To Sub-license Trademark For Use In A Restaurant Business?
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Key Takeaways. A licensing agreement allows one party (the licensee) to use and/or earn revenue from the property of the owner (the licensor). Licensing agreements generate revenues, called royalties, earned by a company for allowing its copyrighted or patented material to be used by another company.
What is trademark licensing? In trademark licensing, a trademark owner (Licensor) grants permission to another (Licensee) to use that trademark on mutually agreed terms and conditions. Trademark licensing was considered impossible at one time given that one of the functions of a trademark was to indicate source.
The 25 percent rule is a general rule of thumb that suggests, as a starting point in a negotiation, that a licensee would pay 25 percent of its expected profits as a royalty for products that incorporate the licensed intellectual property (IP).
A minimum royalty payment (MRP), also referred to as a guaranteed minimum annual royalty or guaranteed minimum royalty, is a payment made periodically by a licensee to a licensor pursuant to a licence regardless of sales success for a licensed product over that year.
Trade mark licence agreement granting a licensee the right to sell products covered by a registered trade mark, drafted in favour of the licensor.
What Is a Sub-Licence? When your licensee grants a third party the rights to use your IP, this party is known as a sub-licensee. As a licensor, you should review any potential sub-licence opportunities to ensure the sub-licensee is subject to the same terms and conditions of the licence you have with the licensee.
In most cases, licensors prefer a royalty rate that falls within 25% to 75% range of the sublicensing income. Their stake usually amounts to more than half of all profits. In rare cases, the licensee can negotiate a rate split and apply their own royalty obligation to the sale of sub-licensed products.
Royalty rates. Royalty payments are computed by multiplying the royalty rate against net sales. For example, a royalty rate of 5% multiplied by net sales of $1,000 equals a net sales royalty of $50. Royalty rates for licensing vary depending on the artwork involved.
25% Rule for Intellectual Property Patent or trademark owners use the 25% rule as a yardstick for defining a reasonable amount of royalty payments.