An exclusive license contract is one that provides exclusive rights to another party. In this contract there are two parties and the license is provided by the licensor only to the licensee exclusively in a restricted manner. The licensee can make use of the license in an exclusive manner without passing on the usage to any other party. This contract ensures that the license for a specific product or material or intellectual property is not used by any other party other than the one who obtains permission. When there is violation of this contract it makes the party liable for prosecution due to illegal use of the same.
Sample Exclusive License Contract
An exclusive license contract is entered into between Ms. Helen Mathew and Ms. Linda Anthony for the purpose of offering exclusive publishing rights of the book written by the former to the latter.
Particulars of License – Book “Life of a housewife” written by the licensor.
Particulars of licensor –
Name of the licensor – Ms. Helen Mathew
Address of licensor – #15, Sheffield, South Yorkshire, London, S25
Contact number – 012-334-5555
Particulars of licensee –
Name of the licensor – Ms. Linda Anthony
Address of licensor – #4, Mountain Ash, Mid Glamorgan, London, CF45
Contact number – 152-552-2341
Terms of exclusive license contract :-
1. The grant of exclusive license by the licensor to the licensee is for a period of five years only and can be renewed thereafter by the licensor if felt necessary.
2. The licensor provides the exclusive rights of the book written by the licensor to the licensee for publishing under the book publishing name of the licensee.
3. The licensee is exclusively issued only to the licensee and the licensee has no right to sub-license the book publishing to any other publishing house.
4. The license contract is governed under the jurisdiction of South Yorkshire courts and all disputed to be settled under the courts falling in this area only.
Signature of the licensor: ______________
Signature of the licensee: _________________