The Law recognizes a number of ways to make businesses and individuals responsible for induction or contribution to counterfeiting of an online trademark other than branded debt. Guarantee – A licensee may demand that his interests be protected by a clause, the donor offering an explicit guarantee of non-counterfeiting. This may mean that the licensee agrees to release the licensee for all costs related to the intellectual property infringement. (A) Exclusive rights are granted to the licensee to the exclusion of any other, including the licenstant, and this may also apply to a specific geographic area or region. Arbitration – If a dispute were to arise as part of the licensing agreement, it is common practice to ensure that the dispute is resolved through arbitration proceedings, as it is a low-cost method. The clause will indicate whether the arbitration will be binding on the parties and what type of discharge will be obtained by the arbitration. Termination and right of appeal – This provision is contained in a licence to encourage parties to cooperate in the settlement of small disputes arising from the agreement. In the event of an infringement, the defaulting party will have the opportunity to remedy this deficiency within a specified period of time. If the defaulting party continues to violate the agreement, the uninjured party has the right to terminate the contract.
Definitions common to most commercial contracts are also an important part of the complexity of trademark licensing agreements. In order to avoid confusion between the parties, it is important that the licensee clearly state what concrete terms or terms are used in the agreement in order to avoid confusion between the parties and to avoid potential conflicts in the event of a dispute. Conditions clearly defined in an agreement are also important because in the event of a dispute between the parties over the agreement, ambiguous conditions may ultimately be left to a court that can decide what might harm the party to the dispute. A trademark licensing agreement is a legal contract between a trademark holder and another party who have agreed to use the trademark under pre-approved and established conditions between the contracting parties. Overall, licensing agreements are very common, but trademark holders should seek the help of experienced consultants to design clearly defined licensing agreements that protect both the brand`s positive will to use and the licensee`s rights. Definitions – There is often a definition section (keywords are defined in the agreement). Insurance – This provision requires the policyholder to receive insurance in order to protect the donor from liability in the event of claims against the taker and to possibly cover the inability of the taker to fulfil his obligations under the license agreement.