Nebraska Merchandising License Agreement

State:
Multi-State
Control #:
US-1031BG
Format:
Word; 
Rich Text
Instant download

Description

A merchandise license agreement describes the terms through which the owner of intellectual property, notably in the form of a trademark, service mark or copyright, grants a party, called the licensee, the right to use the property for distribution, marketing, and sale. These agreements can vary in length and complexity and can be as broad or as limiting as the owner of the property desires. Among the issues addressed in a merchandising license agreement are the types of rights allowed, what products the license covers, the duration of the agreement, and compensation and payment terms. In most cases, the owner of the merchandise, identified in an agreement as the licensor, receives an advance payment at the time the agreement is signed and royalty payments based on a percentage of merchandise sales throughout the period the agreement is in effect. The agreement also addresses the obligations of the licensee. In addition to payment terms, these can include responsibility to make a good faith effort to sell the licensed products. Should the licensee fail to meet their obligations, the licensor has the right to terminate the agreement. This action is typically avoided at all costs, however, since the termination of a merchandising license agreement can result in a loss of income and missed opportunities to capitalize on the property by the licensor, and the waste of an often-substantial investment by the licensee.
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FAQ

International medical graduate, a physician who has graduated from a medical school outside of the country in which he or she intends to practice.

First StepsIdentify the owner of the trademarked merchandise you want to sell.Identify the demographics that will pay you money for the licensed merchandise.Obtain permission from the owner of the trademark to sell the goods.More items...

A Merchandising Agreement may cover a character, mascot or logo that is easily recognized by the public. It could also be used for a piece of software or other patented technology such as a manufacturing process. Such agreements may be exclusive or nonexclusive.

A merchandise license agreement describes the terms through which the owner of intellectual property, notably in the form of a trademark, service mark or copyright, grants a party, called the licensee, the right to use the property for distribution, marketing, and sale.

Practitioners and licensing executives often refer to three basic types of voluntary licenses: non-exclusive, sole, and exclusive. A non-exclusive licence allows the licensor to retain the right to use the licensed property and the right to grant additional licenses to third parties.

Accessories such as hats, ties, and the like are regularly made by licensees, as are home products, footwear, fragrance, eyewear, and many others. Other major players in the product licensing world are media and gaming properties, professional and collegiate sports teams, and food and beverage companies.

The words Nebraska and Cornhuskers/Huskers are trademarked by the university, but these are common words. How do I know whether I need permission to use these trademarks?

Examples of common licensing agreements include: A sports team allowing another company to produce t-shirts with the team's logo. A movie company that allows another company to create a toy based on a character the movie company owns.

Founded in 1981, IMG College Licensing is the leading collegiate trademark licensing agency in the U. S. and currently represents nearly 200 colleges, universities, bowl games, athletic conferences, The Heisman Trophy, the NCAA, the College Football Playoffs and other top college brands.

In a written response to a series of questions, Learfield IMG said the revenue it earns from an individual school goes, in substantial part, to fulfilling its own staff salaries and expenditures needed to handle the business.

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Nebraska Merchandising License Agreement