LICENSING AGREEMENT
This Licensing Agreement is made on the _________ day of 2023
by and between ______________________ (hereinafter referred to as the
“Licensing Company”) and __________________ (hereinafter referred to as the
“Company”). Together referred to as “Parties”.
In consideration of the mutual covenants and agreements herein contained, the
Parties hereby agree as follows:
1. Purpose.
It is hereby agreed that the Licensing Company allows and gives permission to the
company to use its business concept for presentation to third parties.
The company agrees and acknowledges that they do not own the rights to this
business nor can it use the concept for profit.
2. Expenses.
Parties agree that the Company shall cover all the costs associated with the
presentation to third parties.
3. Term.
Parties herein agree that the terms of this agreement shall be binding indefinitely
until otherwise terminated.
4. Termination.
The Parties agree that either Party may terminate this Agreement at any time with a
prior 30 days’ written notice to the other Party for any reason.
5. Confidentiality
Parties agree that all terms and conditions of this Agreement and any confidential
information provided by the Licensing Company to the Company during the Term of
this Agreement must be kept confidential unless disclosure is required according to
the process of law.
Disclosing or using this information for any purpose beyond the scope of this
Agreement (or beyond the exceptions set forth above) is expressly forbidden without
the Parties’ prior consent.
The Parties’ obligation to maintain confidentiality will survive the termination of this
Agreement and remain in effect indefinitely.
6. Indemnity
The Company agrees to indemnify and keep indemnified the Licensing Company
from and against any loss, damage, or liability, whether criminal or civil suffered, and
legal fees and costs incurred by the Licensing Company in the course of the
execution of the obligations under this Agreement and resulting from any act, neglect
or default of the Company.
7. Relationship
The Parties herein agree that the Licensing Company and the Company in this
Agreement are entirely separate entities operationally, financially, legally,
commercially, or otherwise.
There will be no other business interests shared between the parties except the use
of their business concept.
8. Amendments
This Agreement may not be enlarged, modified, altered, or otherwise amended
except in writing, signed by the Parties hereto, and endorsed.
9. Dispute Resolution
Each Party hereto agrees to use its best efforts to settle amicably by mediation all
disputes arising out of or in connection with this Agreement or its interpretation.
Any dispute arising out of or in connection with this Agreement incapable of being
resolved by the Parties shall be referred to litigation under the applicable laws of the
State of Delaware.
10. Waiver
A waiver of any right or remedy under this Agreement or by law is only effective if
given in writing and shall not be deemed a waiver of any subsequent breach or
default.
Failure or delay by either Party to exercise any right or remedy provided under this
Agreement or by law shall not constitute a waiver of that or any other right or
remedy, nor shall it prevent or restrict any further exercise of that or any other right or
remedy.
11. Severability
The invalidity or unenforceability of any particular provision of this Agreement or
portion thereof shall not affect the other provisions or parts thereof that shall be
severed from this Agreement. The remaining provisions shall remain in full force and
effect.
12. Governing Law.
This Agreement shall be governed, construed, interpreted, and enforced in
accordance with the Laws of the State of Delaware.
13. Entire Agreement
This Agreement constitutes the entire Agreement between the parties. It supersedes
all prior agreements; no statements, promises, or inducements made by either Party
or Agent that are not contained in this Agreement shall be valid or binding.
IN WITNESS WHEREOF, each Party has executed this Agreement, by its duly
authorized representative, as of the day and year set forth below.
Signed by the duly authorized Signatory
of the LICENSING COMPANY; –
Signature:
__________________________
Name:
_____________________________
Designation:
________________________
Date:
______________________________
Signed by the duly authorized Signatory
of the COMPANY; –
Signature:
__________________________
Name:
_____________________________
Designation:
________________________
Date:
______________________________
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