Download license contract template here for free of cost. It is a contract by which the owner of a copyright, knowhow, patent, service mark, trademark, license or any other intellectual property, grants the rights to use, make, sell or make copies of the original. The licensee in exchange for this grant of rights pays a consideration in the form of royalties. Licensing agreements are widely used in selling of technology or software. They are known as End User License Agreement (EULA) which allows the users to use the software for the money that they have paid. A user who is using licensed product of the licensor cannot be sued. License contract is very much important document.
A licensor has the rights to sue any person who is using his product without the license. A licensor may grant permission to the licensee to sell or distribute his works such as photographs, art works, written material etc. Licensing a product is of great advantage to a producer or manufacturer since the product can be licensed to an existing company with its own selling and distribution channels. The company is turn would pay royalty on sales which begins a regular stream of cash inflows without having to spend much on marketing and advertisements. However, once the product is licensed, unless anything contrary is agreed upon in the contract the licensee literally has no control over how the product would be marketed and advertised to customers.
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