License Agreement regarding the merchandising of technologies for purifying water
Description
How to fill out License Agreement Regarding The Merchandising Of Technologies For Purifying Water?
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FAQ
Under the terms of a merchandise license, the owner of the image or text (the licensor) is usually paid an advance and a royalty based on a percentage of income from sales. The company selling the merchandise (the licensee) must meet certain obligations including payments, quality control and enforcement of rights.
It's creativity and productivity on your own terms! Having this type of freedom and flexibility in your life is worth more than money to many of you. And you may not become a millionaire, but you can easily earn $50,000, $100,000, or even $200,000 per year from licensing your ideas when you play it smart.
Invent an original product. Research your market. Do a patent search. Consider filing a provisional patent application. File a patent application. Search for licensees. Sign a licensing agreement. Collect royalties.
Royalty rates vary per industry, but a good rule of thumb is between 2-3% on the low end, and 7-10% on the high end. I have licensed consumer products for as low as 3% and as high as 7%, with 5% being the most common and a generally fair number. But 5% of what?
It means you cannot buy the licensed fabric, create your own products, and then sell them for profit (commercial use). If it says individual use only, then you cannot even give them away for free.
The only way to legally sell items with a trademark that you do not own is to obtain a license from the trademark owner. Trademarks are valuable property rights and are vigorously protected by their owners in most cases -- even against a small, localized business.
A product (or merchandise) license allows licensees to leverage popular IP to create branded products, usually for a specific period of time. Once the rights have been secured, the licensee manufactures product using the licensed IP, and in return pays the licensor a royalty for its use.
Determine if permission is needed. Identify the owner. Identify the rights needed. Contact the owner and negotiate whether payment is required. Get your permission agreement in writing.
A product (or merchandise) license allows licensees to leverage popular IP to create branded products, usually for a specific period of time. Once the rights have been secured, the licensee manufactures product using the licensed IP, and in return pays the licensor a royalty for its use.