Cross License Agreement Sec

There are many other methods to consolidate efforts to promote and sell a product or service ranging from joint ownership of a single business to joint ventures (partnerships of two or more companies) to distribution and sales representation agreements. In most cases, a license is the preferred method by a person or organization who simply wants to have a totally passive role to obtain royalties without participating in day-to-day or even strategic marketing decisions. As one customer put it, “I just want to sit down and exchange my license checks.” A license simply means granting another person the right to use an asset that one owns for specific purposes and normally for a payment or a number of payments called “royalties”.