A business license agreement is an agreement which is made when a party grants license to run business to another party in return for a certain amount of money. This kind of an agreement has got legally binding terms and conditions which must be abided by the involved parties.
Sample business license agreement:
Effective date of agreement: 20th June 2011
Period of agreement: 12 months
Termination date of agreement: 20th July 2012
This agreement has been made between Mr. James Mathew of Mathew Solutions who is hereby referred to as the licensor and Mr. Fred Nicholson who is hereby referred to as the licensee.
Details of the parties:
Address: M-90, first floor, Ark square building, New Jersey
Contact number: 498345805404
Address: B-345, Madison square, New York
Contact number: 439805840542
The licensee owns a computer software business by the name of Nick Inc. In New York
Total cost of license: $300000
The licensor grants license to licensee for the running and operating of Mathew Solutions for a period of 12 months.
Recitals and conditions:
The entire payment must be paid in 3 parts, one at the beginning of agreement, one at the end of 4 months of duration and the last equal part at the end of agreement.
The licensor is the sole owner of the business and is only granting licensee for the running of business for 12 months.
The licensee cannot use his name or the name of his company for any deals or associations of the business.