A license agreement is a written contract by which concession and permission for use of the intellectual property is granted without transfer of ownership. Through the license agreements the right in respect to use certain trademarks, names and brands, known as the licensed property is granted.
The parties to the license agreements are the licensor, being the person who owns the trademarks, names and brands, and the licensee, who utilizes the trademarks, names and brands in order to conduct their own business. . Therefore, the licensor holds ownership of the licensed property and the licensees do not enjoy any rights of ownership over the License Property. In other words, the licensor has only given the licensee the right to use the licensed property for a prescribed period of time.
When entering into a licensing agreement it is paramount that both the licensor and the licensee clarify their agreement and the coverage of that agreement, which usually encompasses the following:
Features of License Agreement
It is very rare for the license agreement to come on its own as an independent agreement. They are therefore contained in other contracts and the signing of them therefore come within those contracts. Contracts containing licensing is BOT contracts, joint venture agreements and franchise agreements.
Bayan Emrooz Law Firm renders services to foreign and Iranian natural and legal entities in the field of contract law, including consulting, for setting up a License Agreement. Having an experienced and specialized legal staff, Bayan Emrooz is ready to provide the needed legal services in respect to investment and JVs, sale and purchase in accordance with Incoterms, exclusive and non-exclusive agency, distributorship, technology transfer, license, franchise, turn-key, buy-back, finance, consultancy services, service contracts, EPC, transportation and logistics, insurance, MOUs, LOIs and etc. in Iran.
Bayan Emrooz Law Firm was founded in 2008 under the registration No. 23211 in Tehran, and renders legal consultation and attorneyship services to foreign or domestic legal and natural persons. Our approach and main purpose is to expand the culture of utilizing legal consultation in civil and commercial matters in order to prevent high personal or social costs spent on resolution of disputes before judicial and non judicial authorities.