An intellectual property license contract is a legal document which is drafted when an individual or an organization referred to as the licensee wants to take possession of a property owned by another individual or an organization referred to as the licensor. The intellectual property can be an invention, a literary and artistic works, trademark, industrial designs etc. The main purpose of the contract is to ensure that the licensee does not misuse the intellectual property.
Sample Intellectual Property License Contract
Intellectual property license contract number: AE 34
This intellectual property license contract has been drafted on this day of 10th of November 2011 as per the Intellectual Property Right Laws of the State of Colorado between Roger Moore referred to as the licensor and Pierce Bronson referred to as the licensee.
As per the contract the licensee gets the right to use the novel written by the licensor for publishing purpose.
Details of the licensee:
Organization name: Word Publications
Office address: 34 Rain Maker Road,
Contact number: 456789
Email id: firstname.lastname@example.org
Details of the licensor:
Name of the novel: The Snows of December
Principal address: 23 Foggy Mountain Road,
Contact number: 456324
Email id: email@example.com
Terms and conditions:
- The licensee has to pay in advance to the licensor an amount of $20000. After the book is published and the sale of books takes place, the licensee has to pay royalty to the licensor.
- The licensee assures that he will not alter any content of the novel.
Signature of licensee: Signature of licensor:
Pierce Bronson Roger Moore