The licensing fee should be stipulated in the agreement, as well as any provisions for royalty payments, lease payments or maintenance fees.
Some items included in the licensing agreement are:
- Term (length) of the agreement
- Indemnity for infringement
- Nondisclosure of confidential Information
- Prohibited uses
- Rights to transfer and resell
- Ways of terminating the contract
Though a License Agreement sounds complicated, it doesn't have to be. At Rocket Lawyer.com, you can easily create and customize the License Agreement Form and tailor it to your needs.
This article contains general legal information and does not contain legal advice. Rocket Lawyer is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.