Legal Question in Business Law in California
licensing a business
Very often people sell a license for
their
business. For instance, lets say the
name of the business is Ladies Who
Win and they sell a license for
someone to represent their name
and
business in another geographic area.
What kind of
agreement would I need for that.
3 Answers from Attorneys
Re: licensing a business
From the information you have provided, a trademark licensing agreement is most likely the appropriate document you would need. Such an agreement would outline specific terms and conditions on which you agree to allow the use of your business name for a specific term and for specific compensation. Please feel free to contact us should you wish to discuss this matter further.
Re: licensing a business
A licensing agreement - meaning a detailed contract specifying the rights and responsibilities of all parties. For big franchising businesses, those agreements run dozens of pages to cover all the issues and protect the parties from one another. Even a simple one-on-one agreement would still need to be properly done or its a waste of time. Feel free to contact me if serious about handling the business properly to avoid litigation and expenses later.
Mr. Franchise on licensing a business
If you let someone use your business name and charge for it, it's usually regulated as a franchise (or a business opportunity) under both the state and federal law. It doesn't matter if you call it a "license," a "joint venture," or whatever. There's a lot of paperwork that needs to be prepared and filed with various regulatory agencies. Visit our website at www.franchisefoundations.com for further information. - Kevin B. Murphy
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