A License Agreement Form is a written document wherein the licensor or the owner of a brand name or patented technology will agree to give his full license over such name or technology to a licensee. In this agreement, the benefits, right to use, importation, and selling of a product will be granted to the licensee in exchange for an amount of payment. The licensee will be required to meet certain conditions made by the licensor for the safety and usage of the product.
Here on SampleForms, we have samples of License Agreement Forms in various formats depending on what you need. You may download them in MS Word or PDF formats.
Patent License Agreement Form
Real Estate License Agreement Form
Music License Agreement Form
Manufacturing License Agreement Form
When to Use a License Agreement Form
Listed below are three common instances that require the use of a License Agreement Form:
- When you have a Patented Technology. A patent refers to the exclusive rights that the inventor has over his technology-based invention. When a person makes a new software or an application, he is thereby required to have a Patent License Agreement Form that includes the technicalities of his invention.
- When dealing in Real Estate. In licensing a property, especially a house and a lot, it is very important to know who is the owner and the details concerning the subject property. If a property is to be sold, a Real Estate License Agreement needs to be signed by the new owner, or the buyer, and the seller of the property.
- When you made your own Music. Copyright holders, such as singers and composers, are often prone to their compositions being copied and used by other artists without granting a permission. Piracy, theft, and freebooting are the most common cases that violate the Copyright Law. Music License Agreement Forms must be sought and acquired by a party that aims to use a licensor’s compositions for a certain event.
Similar to a License Agreement, the Commercial Agreement Form also focuses on the grounds and limitations in which another party is able to use a property, such as a room or a house, owned by the landlord.
License Agreement Form Example
License Agreement Short Form
License Agreement Form in PDF
License Agreement Form in Word Format
Key Elements of a Licensing Agreement Form
- The Scope of the Agreement. This area will serve as an introduction of the parties involved and what type of agreement the document is. This also states the territorial rights and distribution of the product.
- Financial Aspects. This area focuses on the payments to be given by the licensee for the licensor. Included in this part is the calculation of the royalty rates, as well as the minimum sale guarantees.
- End of Contract and Renewal Options. This refers to the allotted time for the licensee to use the product, whether for a few months or within a year. Some licensors also allow the licensee to renew the contract under certain conditions.
- Procedures to Be Followed. An instruction manual may be compiled together with the agreement to assure proper usage of the product. This should include the possible errors to be faced by the licensee, some frequently answered questions or FAQs and the schedule of inventory by the licensor.
It’s not just a Real Estate License Form that’s of great use to brokers and landlords, but also Commercial Lease Agreement Forms as well. Browse through our site to get a good idea of how this form looks.
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