For the next few posts I will be breaking down a general Licensing Agreement clause-by-clause and giving brief explanations on what it all means. For the beginning of this series of posts, start at the first one dated Sept 14, 2009 (scroll down).
This is the next clause in a Licensing contract:
14. RELATIONSHIP OF THE PARTIES
14.1 This Agreement does not create a partnership or joint venture between the parties other than explained in this Agreement.
This clause is to make sure that it is understood that neither party has a vested interest in or to the other party and that there is not a partnership or joint venture between them. There is only the business that is clearly stated in the Licensing Contract, which is that the Licensor is allowing the Licensee to use it’s Property on or with the Licensed Product for a royalty. Nothing more is being implied.
As most of you know, I am not a lawyer or an accountant and I recommend everyone seek their own legal counsel, accounting and tax advice in all contractual matters.
I provide consulting which is detailed on the ‘services’ page of this website.
Hope this contract breakdown helps you understand the intricacies of a Licensing Agreement. Should you have any questions contact me at info@Playdigm.com – please put ‘Your name & Licensing’ in the subject line of your email.