From the course: Contracting for Creatives
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License types: Perpetual exclusive, perpetual non-exclusive, time limited
From the course: Contracting for Creatives
License types: Perpetual exclusive, perpetual non-exclusive, time limited
- The types of license agreements are many and varied. That's the beauty of the contract as an art form. Parties are free to negotiate and agree to whatever terms and conditions they see fit, while within the bounds of law of course. Among the important questions to ask when considering the scope of a license agreement are: One, exclusivity. Is the license only for one other party, or can it be licensed to multiple other people or entities? Two, market. Where is the license valid? Are you going to license to someone in the United States and someone in the European Union? Or you could subdivide it into physical stores in the United States, and e-commerce outlets that sell to the European Union and Latin America. Three, payment terms. When and how do you expect to get paid? In my experience, there is more variation in payment terms in license agreements than in any other type. Four, termination. Under what circumstances, or after the expiration of what time period, does a license end?…
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