A license contract agreement is an agreement which is made and drafted between two parties when a license of a particular good or commodity is being given from one party to another. These agreements consist of a certain number of terms and conditions which are legal in nature which means that they have to be followed so as to avoid legal implications.
Sample License Contract Agreement:
This agreement is made effective as on the effective date 23rd May 2011
This agreement is a license contract agreement where the manufacturer wishes to grant license to the client to use the product manufactured by it.
This agreement is made by and between Mr. Fred Markson who is herein referred to as the Licensee and Mr. Jack Aniston who is herein referred to as the licensor.
The licensee resides at 2-s, east river street, LA whereas the licensor resides at t-45, Third floor, Matt villa, LA
Details of product:
Licensor has manufactured a product named ‘Boston video library’ which he wishes to let the Licensee use for $3000 per month.
Both the parties agree to the following terms and conditions:
This agreement shall terminate on 23rd May 2012 and shall remain into effect for 12 months.
- The licensee agrees to use the library for his use and cannot grant license for its usage to any other party or person.
- The licensor cannot interfere in the matters of the library during the contract agreement term.
- The monthly payment must be made within the first week of each month.
Both the parties validate the agreement as follows: