What is a licensing agreement?

A licensing agreement is a legal contract where one party, known as the “licensor”, gives permission to another party, known as the “licensee”, to use their intellectual property, such as copyrights, trademarks, or patents, in exchange for a royalty or fee. In art law, this type of agreement is beneficial for both parties because it allows the licensor to protect their work while allowing the licensee to use it and make money off of it. In Oklahoma, licensing agreements must adhere to state laws, which govern agreements between licensors and licensees. The agreement must include specific provisions that protect both parties, such as agreeing that the licensee will not pass off the work as their own and will use and promote it according to the licensor’s standards. It is also important to be aware of other federal and state laws that could affect the agreement, such as those concerning copyright and trademark protection. By making sure that all legal considerations are taken into account, licensors and licensees can ensure that their agreement is valid and that their rights are protected.

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What is a licensing agreement?

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