Q.What is a trade name license agreement?

A.A Trade Name License Agreement spells out the terms allowing the use of a company's business (trade) name by another company. This typically occurs with franchises like Subway, McDonald's, and Quiznos. The typical Trade Name License Agreement includes: (1) The name being licensed; (2) The uses allowed for the name; (3) The territory where the name can be used; (4) Whether the license is exclusive or non-exclusive; (5) The term of the license plus any renewal rights; and (6) The fee and/or royalties to be paid for the license.

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