A Name Licensing Agreement is essential when one party wishes to grant another the right to use a specific name for commercial purposes. This document, governed by English and Welsh law, is commonly used in situations involving brand names, personal names, or other valuable naming rights. It establishes clear parameters for usage, quality control, and financial compensation, while protecting the interests of both the licensor and licensee. The agreement typically includes detailed provisions for territory restrictions, term duration, renewal options, and termination conditions.
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Key Requirements PROMPT example:
Name Licensing Agreement
"I need a Name Licensing Agreement to allow a small retail company to use my personal name for their new fashion line in the UK, starting from March 2025, with a 5% royalty on all sales and strict quality control provisions."
1. Parties: Identification and details of the licensor and licensee
2. Background: Context of the agreement and ownership declaration of the name
3. Definitions: Key terms used throughout the agreement
4. Grant of License: Scope and nature of the license granted
5. Term and Territory: Duration and geographical scope of the license
6. Payment Terms: License fees, royalties, and payment schedule
7. Quality Control: Standards for name usage and approval processes
8. Termination: Circumstances and process for ending the agreement
1. Sub-licensing Rights: Used when the licensee needs to grant rights to third parties
2. Minimum Performance Requirements: Minimum usage or revenue requirements for performance-based licenses
3. International Usage: Special provisions for when the license extends beyond UK territories
1. Schedule 1: Licensed Name Specifications: Detailed description and representation of the licensed name
2. Schedule 2: Style Guide: Guidelines for name usage and presentation
3. Schedule 3: Territory Definition: Detailed description of licensed territories
4. Schedule 4: Fee Structure: Detailed breakdown of fees and royalties
5. Schedule 5: Approval Procedures: Detailed process for obtaining usage approvals
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