Trade-Mark License Agreement

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