Increasing Awareness of Your Brand
If you have been thinking about expanding your brand, it might be a good idea to consider allowing others to use your trademark. A trademark license agreement gives permission to another business to distribute goods or market services with your slogan, design, or symbol, in exchange for royalties. Not only can licensing your trademark create an additional revenue stream and boost your profit margin, but it can also help to increase widespread recognition of your brand.
Licensing your trademark can be essential for the development of your business. However, it is critical to ensure that the agreement you have entered fully protects your brand. The Trademark Lawyer Law Firm, PLLC works closely with business owners to create effective licensing agreements to shield your mark from wrongdoers and help your business thrive.
What is a Trademark License Agreement?
Your brand is your company’s most valuable asset — and you should be careful about granting permission to use the mark that represents it. Regardless of who you permit to use your trademark, it still encompasses the values, reputation, and integrity of your brand.
A detailed trademark license agreement must identify the licensor and licensee and can include provisions concerning:
- Quality control
- The goods or services on which the mark can appear
- The duration or time frame of usage
- Conditions for renewal
- The geographic locations where the mark may be used
- Compensation for use of the mark
- Consequences of breaching the agreement
A licensing agreement may be exclusive, non-exclusive, or sole. In an exclusive agreement, the licensee is the only party who may use the mark, absent a provision stating otherwise. Non-exclusive licenses provide the licensee with rights to use the trademark — but the licensor remains free to grant licenses to other licensees as well. Additionally, a sole license allows both the licensor and the licensee permission to use the mark.
With any type of licensing agreement, it is critical to include terms as to the manner in which the mark may be used. Although trademark licensing can generate a considerable amount of revenue for your business, you must ensure certain standards are met and you maintain control of your brand. Failure to exercise authority over your brand can result in your mark being left exposed to misuse or being deemed abandoned.
As your brand gains notoriety, more and more businesses may want to use your mark in connection with their products and services. However, many strategic decisions must be made if you choose to license your trademark to others. Our knowledgeable trademark attorneys have extensive experience drafting meticulous licensing agreements that are fully enforceable and can meet the needs of your business.
Comprehensive Advice for Brand Guideline Development
Gaining recognition for your brand can be advantageous to the growth of your business and your bottom line. But it is crucial to take every measure to shield the logo, design, or slogan that makes your brand unique from wrongful exploitation. Once you have registered your mark, it is essential to create brand guidelines — especially if there is any potential that you may license it to others. Importantly, by establishing guidelines for your brand, you can specify the circumstances under which others may or may not use your trademark and maintain control of your brand.
Brand guidelines communicate the overall feel of your company and how it should be perceived by your customers or clients. They serve to ensure that your mark is being used consistently no matter where it appears. Similar to a trademark license agreement, you can identify the types of goods that your mark is associated with and the manner in which the mark will appear on each product. You can also specify elements such as colors and typography that must be used in connection with your mark, as well as any ratio or size requirements.
At the Trademark Lawyer Firm, we assist business owners in various industries with creating clear brand guidelines so that their brands retain the reliability their customers have come to depend upon. We take the time to understand our clients’ objectives and work with them to develop comprehensive strategies that allow them to expand their brands into a broader market — and improve their profitability.
Contact a Skilled Attorney for Trademark License Agreements
Trademark licensing can create many new opportunities to increase awareness of your brand and generate additional revenue. But, it must be done correctly to fully protect your mark from infringement or misuse. The Trademark Lawyer Law Firm, PLLC is dedicated to providing high-quality legal services for business owners considering licensing their trademarks. Having registered more than 6,500 trademarks with the USPTO, we have vast experience helping entrepreneurs safeguard their marks. Contact us today for a free consultation.