Licensing & Distribution
When conducting business, an entity can establish amongst other things, an agency, licensing or distribution relationship with another party, depending on the parties’ specific requirements. An agency relationship is an arrangement where the agent carries out certain obligations on behalf of the principal. In terms of an agency agreement, the principal will be bound by the actions of the agent, as if such acts were those of the principal personally.
License agreements defined
A license agreement is an agreement in terms of which the licensor provides the licensee with permission to exercise rights which the licensor possesses, for example rights in copyright or a trade mark. As consideration for such license, the licensee usually pays a royalty to the Licensor. A license agreement also regulates the rights and obligations of the parties pertaining to the license.
Distribution agreements defined
A distribution agreement is an agreement in terms of which the manufacturer grants the distributor the rights to distribute the manufacturer’s products.
Adams & Adams can assist with the drafting and reviewing of any of these agreements.