Trade Mark Royalty Agreement
Licences may be granted for any number of purposes and over a wide variety of subject matter. In its simplest form, the relationship under many licences will be a party which owns something allowing another party to use that something in return for payment.
Payment under licences often takes the form of royalties – regular payments which are generally a percentage of income generated by the licensee’s activities.
This Trade Mark Royalty Agreement provides for such situations. The terms of this agreement are sufficiently broad to cover single or multiple trade marks. Moreover, although many terms pertain to registered trade marks, the document is still suitable for use with unregistered trade marks. In certain situations, you may wish to apply the contract to a combination of the two.
The licence granted by this agreement may be either exclusive or non-exclusive. Payment may be by royalties alone or by an initial fee (usually paid on the date of the agreement) followed by royalties. An advance against royalties is also provided for. This advance must be recouped before royalty payments commence.
The terms and conditions of this Trade Mark Royalty Agreement are substantially the same as those contained in the Trade Mark Licence (Short Form) which is also available from Simply-docs. Users of either of these documents will not need to download the other.
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.
This Trade Mark Royalty Agreement contains the following clauses:
1. Definitions and Interpretation
2. Grant of Rights
3. Scope of Licence
4. Licensor’s Rights and Obligations
5. Licensee’s Rights and Obligations
6. Payment, Royalties and Records
7. Licensor’s Warranties
8. Licensee’s Warranties
10. Limitation of Liability
13. Term and Termination
14. Post Termination
15. Non-Assignment of Agreement
17. Force Majeure
18. No Waiver
20. Law and Jurisdiction
and the following schedules:
1. The Trade Mark(s)
2. The Stated Purposes
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