QUESTION
What agreement contract do I need if someone granted me permission to use their name for a business/ product?
Asked on Feb 18th, 2011 on Patents - Washington
More details to this question:
A friend of mine has a very unusual nickname which seemed fitting for my web company. I have asked her permission to make use of it and she agreed, if I pay her 5% of profits (if I make any). I am more than willing to make this deal as the name means much more to me. What kind of agreement or contract do I need to make with her to make it more "foolproof" and not screw each other in the deal. I just don't like the verbal "gentleman's agreement" we have and would like it on paper.
3 ANSWERS
You do not need any contract to do this. You cannot copyright a persons name. It is not allowed. I would tell them that I like the name and that I was planning to use it on the web but I would not pay them any royalties because they do not own anything. Set aside 5% of you profits for something worthwhile like homeless shelters, animal shelters etc.
Answered on Feb 22nd, 2011 at 3:16 PM
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You need a licensing agreement such as a trademark license agreement. There are many terms that are negotiable such as who is responsible for enforcement if there is an infringer. There is also a question as to whether there really are any existing rights. Trademark rights are derived primarily from use in commerce.
Answered on Feb 21st, 2011 at 1:49 PM
You need a contract that specifies how the payment will be calculated and made. The contract should address whether you have exclusive use of the nickname, what your friend's duties are in promoting the website/nickname, how permission can be terminated, etc. An attorney can probably help you create a one page document.
Answered on Feb 21st, 2011 at 1:49 PM