AGREEMENT is made this _______day of __ between ____M/s ________,
a Company registered under the Companies Act, 1956, and having its registered office at _
hereinafter referred to as the Licensor' of the One Part and Mr. ._________________carrying on
business of ------------________________ Hereinafter referred hasthe Licensee’ of the Other Part
WHEREAS
- The Licensor is the proprietor of a trade mark more particularly described in the schedule hereunder written and which is duly registered under the Trade and Merchandise Marks Act 1958.
- The Licensor is manufacturing and selling the goods viz ________ under the said trade mark.
- The Licensee who is running a small scale industry has requested the Licensor to grant him a license to manufacture the said goods with the trade mark embossed or printed thereon as is being done by the Licensor and which the Licensor has agreed to do on the following terms and conditions agreed to between the parties hereto.
NOW IT IS AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS: - The Licensor hereby grants to the Licensee a license to manufacture the said goods as a job work by applying the said trade mark, particulars of which are described in the Schedule hereunder written.
- The Licensee agrees and undertakes that all of the said goods manufactured by the Licensee in his factory at ______________or elsewhere shall be sold to the Licensor and not to anybody else at the price of Rs __________per item or article. The Licensee undertakes to manufacture and supply to the Licensor a quantity of not less than _________________every month.
- The goods so manufactured with the said trade mark applied to them will be supplied and delivered by the Licensee to the Licensor at the latter s business premises at _ at his own costs of transport.
- The price of the said goods so supplied will be paid by the Licensor against delivery after deducting there from the royalty payable by the Licensee to the Licensor as hereinafter provided.
- The Licensor shall have the right to reject any goods supplied if they are not as per specifications or quality which are made known to the Licensee and in the event of such rejection the Licensee shall take back the rejected goods from the Licensor’s premises at his own costs and until such removal they will be at the risk of the Licensee. The Licensor agrees that during the subsistence of this agreement, the Licensor will not get the said goods manufactured from anybody else.
- The ownership of the said trademark will always remain with the Licensor and the Licensee will not pass off the said goods as if he is the owner of the said trademark.
- The Licensee will be at liberty to put a label or advertise that the said goods are manufactured by him but it will also be mentioned that the trade mark belongs to the Licensor and that the goods are manufactured for the benefit of the Licensor.
- 8. In consideration of the Licensor allowing the Licensee to manufacture the said goods with the said trade mark the Licensee agrees to pay to the Licensor by way of royalty a sum equal to ______________per cent of the price of the goods at which they will be sold to the Licensor by the Licensee as aforesaid.
- The Licensee shall keep an account of the goods manufactured and sold to the Licensor and the price received by him and royalty paid in respect thereof and such account shall be open to inspection by the Licensor from time to time as may be required by the Licensor. The Licensor will also have the right to enter upon the premises of the Licensee where the goods are manufactured and to take inspection of the goods manufactured.
- This agreement will remain in force for a period of __ years from the date hereof and on the expiration of the said period or earlier termination thereof as herein provided, the Licensee shall stop manufacturing the said goods under the said trade mark and all the goods till then manufactured and lying undelivered to the Licensor will be delivered to the Licensor in terms of this agreement as aforesaid….
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