Service Mark License Agreement

While the owner of a Service Mark holds the exclusive right to use that Service Mark to market or sell services, the Service Mark owner may transfer certain of those rights to a third party by way of a Service Mark License Agreement. A Service Mark license generally is given for a specific duration, during which the licensee pays the Service Mark owner for the use of the Service Mark. Once the term of the license is over, all rights in the Service Mark revert back to the Service Mark owner. (continued ...)