In a typical licensing agreement, the licensee undertakes to make intellectual property rights such as technology, brand name or licensee know-how available to the licensee. In exchange for the intellectual property of the licensee, the purchaser usually plays the donor a pre-feeding and/or a licence fee. A licence fee is an ongoing fee paid for the licensee`s right to use intellectual property. 16. In the event of a dispute arising from this agreement, the same thing is referred to the arbitration procedure of a common arbitrator, if it is agreed or in the absence of such an agreement, to two arbitrators appointed by each party, and the arbitration procedure is currently governed by the arbitration law. 12. The licensee may, subject to the provisions of this Agreement, register as a registered user in accordance with the provisions of the Trade-Merchandise Marks Act 1958. 13. If, during the registration of the licensee as a registered user, the Registrar of Trademarks imposes a condition that is not acceptable to the licensee, the licensee will withdraw the application for registration or the licensee will have the opportunity to terminate the contract.
5. The licensee has the right to refuse the goods delivered if they do not comply with the specifications or qualifications communicated to the licensee, and in the event of a refusal, the licensee removes the refused products from the licensee`s premises at his own expense and, until they are withdrawn, they are at the risk of the purchaser. The licensee agrees that the licensee does not manufacture these products by someone else during the stay of this contract. 10. This agreement will remain in force for a period of -19 years from the date of that period and, at the expiry of the previous period or termination of the agreement, as stipulated in this agreement, the taker will cease to manufacture these products under that brand and all goods manufactured until then and not disputed to the donor will be delivered to the licensee for the purposes of the agreement. A licensing agreement is a contract between two parties (conedenters and licensees) in which the donor grants the purchaser the right to use the mark, brand, patented technology or the ability to manufacture and sell goods in the licensee`s possession. In other words, a licensing agreement gives the licensee the opportunity to use the licensee`s intellectual property. Licensing agreements are often used by the licensee to market their intellectual property.