use the attached example for this assignment and select 10 of the "contract points" outlined. Create these for your proposed license deal and add them to your running Word document. Label the section "Key Deal Points." For example, a key point will be the length of the license agreement "term" and any "renewal" term. Create what you would like your term to be, e.g., a three-year term with a two-year renewal. For each point, make sure to give some short justification for it. Submit as a word document.
Key Deal Points:
Royalties would be a certain percentage of the sales that the licensor would get based on what the licensee sales of certain products also known as net sales.
The termination of a contract also means the contract has ended for various reasons.
The terms of the agreement also include how long the agreement is for in years.
Clauses are provisions within the agreements that are specific to certain terms and conditions.
The grant of rights is basically the core of the agreement or the meat and potatoes of the entire agreement.
When a contract or agreement has exclusivity, it means it is the sole or only of certain things. For example, Nike has exclusive rights to jerseys and apparel for the NFL.
Geographic territory includes where the licensee will be able to sell their products specifically to a certain area.
When a licensing agreement speaks to having options, it indicates that the licensing agreement has different options within the agreement.
When you see and hear about a breach of contract, this happens due to certain conduct or behavior that would cause the contract to get terminated.
When speaking about expanding a licensing agreement, this could also mean the licensing agreement could be extended due to performance.
Each of these terms have multiple meanings not only pertaining to licensing agreement but to other items as well.
References:
Raugust, K., (2012) The Licensing Handbook. (8th edition) EPM Communications.