A licensing agreement is a partnership between the ip rights holder and another party entitled to use those rights (licensed). The agreement outlines the rights and responsibilities related to the use and use of intellectual property developed by the UGA. As a general rule, the UGA licensing agreements provide that the licensee should make careful efforts to commercially exploit intellectual property for the public interest and to provide a reasonable return to the UGA. The University of Georgia has implemented a licensing program to protect the use of its logos and badges. This program, run by the University of Georgia Athletic Association, has been successful for the university, its licensees and its business partners. To expand the program and grow, the university has partnered with the Collegiate Licensing Company (CLC) (www.clc.com) in Atlanta, Georgia to become an exclusive brand licensing representative. Fermata Partners grants licensed suppliers the license for the use of trademarks from the University of Georgia. Companies wishing to become licensed suppliers should subscribe to an application via Fermata. The verification process takes approximately six weeks.
Now you have to consider the type of licensing agreement: exclusive, alone, territorial or application. Make, Use, Sell, Display, Perform, Create derivative works and Copy are exclusive and exclusive rights and can be separate chords. Structuring agreements based on assets, the market and the licensee`s geographic presence maximizes your performance. Although items consumed internally by the university, its departments, campus organizations and clubs close to the university are NOT required to pay royalties for items produced for them and not for resale, they must be produced by an official licensee from the University of Georgia, and the designs must be approved by the university`s licensing department. This directive ensures that all elements that bear the university`s identity represent the university in an acceptable manner and on a quality product. The terms of a U.S. brand licensing agreement with the university generally include a registration fee ($50-250), an annual administration fee of $0 to $250, Advance costs of 0 to 1,000 USD, $1,000,000 in product liability insurance ($100 to $1,000 depending on the sublicensing product), marketing costs, product development, sample and authorisation production fees and 8.0% licence fee on the wholesale price of the product. In addition, licensees are required to submit product models and designs for approval prior to product manufacturing. The main objective of brands is to prevent consumers from being confused about the origin or origin of a product or service. Marks help consumers answer questions: “Who makes this product?” and “Who offers this service?” When consumers become familiar with certain brands and the products or services they represent, brands can acquire secondary meaning as quality indicators. Clearly, the university does not produce most of the manufactured product that bears the university`s hallmarks.
Under the university`s licensing program, manufacturers, through the university`s licensing officer, the Collegiate Licensing Company (CLC), have the right to use the university`s trademarks for a large number of goods and services that will then be made available to consumers.