16. In the event of a dispute arising from this agreement, the same thing is referred to the arbitration procedure of a common arbitrator, if it is agreed or in the absence of such an agreement, to two arbitrators appointed by each party, and the arbitration procedure is currently governed by the arbitration law. A trademark licensing agreement should include the following: a licensing agreement between a trademark holder and a manufacturer is an official document stipulating that the manufacturer of a product is authorized to manufacture the product by the company or by the person who protected it. However, the trademark holder may choose the terms of the licence for this contract. Ownership of the trademark belongs exclusively to the registered owner. It should be noted that at no time when the agreement is in force, or in any other way, does the purchaser claim any ownership of the mark. It is important to mention the exact duration of the license. After the term, it may be extended at the discretion of the parties. 5.
The licensee has the right to refuse the goods delivered if they do not comply with the specifications or qualifications communicated to the licensee, and in the event of a refusal, the licensee removes the refused products from the licensee`s premises at his own expense and, until they are withdrawn, they are at the risk of the purchaser. The licensee agrees that the licensee does not manufacture these products by someone else during the stay of this contract. Details of the license exclusivity must be specified. An exclusive license creates monopolistic rights to the use of the trademark. A non-exclusive license is likely to be granted to others. It is necessary to specify the exact quality of the goods to be maintained by the taker. This information is determined by the holder. The licensee may also be used to provide samples of goods, packaging, etc., if required by the licensee. Let`s understand the purpose of this document with an example: if ABC Industries wants to create a simple mechanical component that will be useful for a particular machine, but Lord.