LICENSING AGENCY

The formal permission to use the owner's property is subject to certain terms and conditions, such as a specific purpose, a defined geographic area, and a finite time period. In exchange for granting the rights, the licensor obtains a financial remuneration. The basic component of this payment is the royalty - in most cases a percentage of the licensee's sales of products covered by the license. Most deals also include a "guarantee" or "minimum" - a sum that the licensee is required to pay to the licensor even if little or no product is sold. A percentage of this guarantee is often paid as an advance at the time the deal is signed.

Also known as: Copyright Licensing Agency, Licensing Agency Intellectual Property

Primary location: Dubai Uae