One of the most important clauses in the licensing agreement is the products to be manufactured by the licensee under the license agreement. This is especially important for the consumer goods industry in which the license agreement will contain specifics on the right to use the licensed trademarks for the marketing of the licensed products. The licensed trademarks should be detailed in the agreement (or in an attachment to the agreement ) and the products (or services) licensed under the trademarks should be clearly defined. Keep in mind that trademarks can be registered for multiple product or service categories, so the number and type of products (services) licensed under the agreement may be narrower than the list of goods or services for which the trademarks are registered in each country.
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Rand Brenner is President / CEO of Licensing Consulting Group, an intellectual property management and licensing company specializing in assisting clients in IP Management, Strategic Consulting, Acquisition of Licensing Rights, and Property Representation. Rand has licensed some of the biggest Hollywood blockbusters, including “Batman” and the “Mighty Morphin Power Rangers”, both of which generated billions of dollars in worldwide merchandise sales. He has lead various international licensing programs as both licensee and licensor, and through consulting projects focused on licensing strategy, brand development, sponsorship sales and property representation.