27 Duration of contract, renewal and termination4. Impact of termination 4.1 A well-developed license agreement should provide for the consequences of termination on the rights and obligations of each of the parties, in order to avoid any further disputes at a time when the parties may already have fewer good terms. 4.2 The licensee`s most pressing concern will be the ability to reduce and deplete existing stocks. Sources: Key Aspects of IP License Agreement Handout by Donald M Cameron Rowena Borenstein_Ogilvy Renault ATTENTION!!! Accept the provisions of this document You accept the obligations mentioned in this document and agree to assume the responsibility set out therein. In addition, you agree that the required fields or fields have been completed personally by you while applying for a license and at your discretion. You also confirm that you are at least 21 years old and that you have the necessary rights and powers to represent a legal person / website / portal, etc., in which name you make the request and that you are fully responsible for this request and its consequences. Please note that the text of this public offer, and therefore the terms of the agreement that it reflects, are certainly only valid at the time you read it and place an order for acceptance of the offer. The text of this agreement may be amended or supplemented at any time, and this latest version is considered the only valid one. 35 Commitment of Party (b) Exclusivity If the grant of the license is exclusive, the agreement may contain a provision that the licensor agrees not to grant the technology to other persons in the defined exclusive territory or for use in the defined exclusive area. (c) Enforcement of intellectual property rights The agreement should contain a clause indicating which party is responsible for maintaining registered intellectual property rights and which party is responsible for paying all fees related to such registration. Sources: Key Aspects of IP License Agreement Handout by Donald M Cameron Rowena Borenstein_Ogilvy Renault 46 REQUIREMENTS OF A FRANCHISE AGREEMENTS SECTION 18 (3) – Failure to comply with subsection (2) results in the cancellation of a franchise agreement. § 18 (4) – A franchise agreement has a cooling period set by both parties, but which is not less than seven working days during which the franchisee has the opportunity to terminate the contract.
§ 18 (5) – In the event of termination of the franchise agreement referred to in paragraph 4, the franchisor may withhold from the costs initially paid under Article 19 an amount intended to cover the reasonable costs incurred by the franchisee in preparing the contract; However, all other funds will be refunded to the franchisee. Your license agreement can only contain one or a combination of these payment methods. The following example license agreement describes an agreement between licensor “Valerie J Toups” and licensee “Matthew K Jordan”. Valerie J Toups agrees to allow Matthew K Jordan to use the Licensed IP on the specified terms. It is based on a contractual agreement between the owner of the property (the licensor) and the person who wishes to acquire the license (the licensee). . . .