Three Elements of a Strong Licensing Agreement


Licensing agreements allow a third party to use intellectual property. The contract lays out the terms and conditions such as the payment, duration and credit. It is important to assure that the contract is well written and expresses the wishes of both parties.

Payment

The contract dictates how much artist will be paid and how. Some artists wish be paid in a lump sum. Others prefer to receive royalties, or a percentage of the money the other artist makes off of their work. It is important that artists assure that the contract reflects what they want.

Other important details

The artist should also assure that the contract specifies how long they are giving others the rights. Some contracts allow the other party to continually reproduce the work, while others limit the time. Similarly, some contracts require that the new artist gives credit to the original artist, while others do not. Both parties should consider these details, and others, before writing or reviewing the contract.

Legality

Lawyers can be expensive, and creating the contract can take a long time. However, the benefits of creating a strong contract with no loopholes is worth the upfront cost. Artists need to assure they are seeking out reputable lawyers and that the contract will be legally sound.

Miami licensing agreements allow artists to share work. These agreements are important to the sharing of art and intellectual property. They allow work from a city, like Austin, or a State, like Florida, to be used around the world. However, it is important that both parties assure the contact is well written and contains exactly what they are looking for in the agreement.