Can a new company change prior license agreements
What is a License Agreement?
License Agreements are often used to help small business owners get their product or concept to consumers. This document is simple to make and will help you protect your interests.
A License Agreement is most often used if one person has ownership of a business concept, software, app, or new product that they want to be able to take to market with the help of another party. A License Agreement allows another business to have access to the usage of that licensed property.
When to use a License Agreement:
- You want to provide usage rights to your intellectual property to another person or entity.
- You need to create an exclusive or non-exclusive agreement with another for use of your property.
- You want to provide usage rights within a specific geographical area.
- You need to set up a royalty agreement for use of your licensed property.
- You want to provide usage rights, so another can manufacture your product.
Sample License Agreement
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