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An up-front payment made to the licensor which is later credited against future royalty earnings. Example: An upfront payment of $50,000 to a designer, deducted from future sales royalties.$

A contract in which the patent owner permits another party to make, use, or sell the invention for a certain period of time. Example: Licensing a patented textile technology to an apparel company.

Conditions under which a licensing agreement can be extended beyond the original term. Example: An option for automatic renewal unless either party objects within a specified period.

The right given to a licensee to allow a third party to use the licensed intellectual property. Example: A clothing retailer sub-licenses a fabric print to another company producing accessories.

A mutual exchange of licensing rights between two parties, often to share technology or designs. Example: Two footwear companies agreeing to share each other's patented shoe sole technologies.

An agreement where the owner of a design allows another party to use it in production or sale of goods. Example: A shoe designer licenses designs to a footwear company.

A legally binding agreement where the trademark owner (licensor) allows another party (licensee) to use the trademark on specific products or services. Example: Calvin Klein licensing their brand to a sunglasses manufacturer.

A requirement in licensing agreements that ensures the licensed products meet certain standards of quality. Example: A luxury brand monitors the product quality of items produced by its licensees.

A legal permission given by the copyright holder to another party to use a work protected under copyright law. Example: A fashion designer licensing fabric patterns to a clothing manufacturer.

A contract where the licensor grants the licensee the right to use a trademark, patent, or other IP, under defined conditions. Example: A clothing line enters a license agreement to use a popular cartoon character on their products.

A clause ensuring the licensor receives a minimum level of royalties irrespective of sales. Example: A commitment that the licensee will pay for at least $20,000 in royalties each year.$

Rights granted to a licensee to sell licensed products within a specific geographic area. Example: A fashion brand grants distribution rights to a retailer only in Europe.

The time period for which a license is granted to the licensee, after which the agreement may be renegotiated or terminated. Example: A 5-year licensing contract for a fashion accessory line.

A part of a licensing agreement that restricts the licensor from granting rights to other parties within a specific market or territory. Example: An exclusive deal for a fashion label to be sold at a particular retailer.