What’s A License?
Simply, a License Agreement means someone who owns and holds the rights to a product, allows someone else to use that product in return for payment or compensation. For example, if a business wants to use certain software or an app, they may enter into a Licensing Agreement with the person who created that softeware or app.
Licensing Agreements usually cover what, when, and how much? What exactly is being licensed? When will the license run out? How much will the Licensee have to pay the Licensor in return for the License. There may also be restrictions around what can and can’t be done with the licenced property, or clauses around renewals or ongoing royalties.
Do you need a Licensing Agreement drawn up to protect your property? Perhaps you would like a Licensing Agreement reviewed to make sure you can use the material the way you intend? Godfreys Law can make sure your expectations are clear, so you get a fair deal.
What’s A Franchise?
A Franchise Agreement gives you the rights to a brand, registered trademarks, a business model, and intellectual property. Basically, everything you need to get a recognized business up and running.
Franchise Agreements can be more complex than License Agreements, as they usually relate to people and how a business should be run. There may be restrictions around your business location within Christchurch, who you can use as suppliers, formatting for marketing material, and much more.
Buying into a franchise is a serious decision that should not be taken lightly. Working closely with your Accountant or financial advisor, we can review the contracts and perform due diligence checks, so you can make sound business decisions based on facts.
Do you have an idea to take your business to the next level? Godfreys Law can help you prepare a Franchise Agreement and Manual, setting out the fine detail to protect the brand and Company reputation you have worked so hard to build.