How can I use my mark to make money?

Often times a business may want to use another company’s well-known mark in connection with its goods or services. Under these circumstances, the mark’s owner can grant the other business a license permitting a specified use within a specified territory and under other specified conditions.

Typically these license agreements call for the mark’s owner to receive a payment, often times in the form of a royalty. Royalty rates are usually expressed in the form of a percentage of the income the other party derives from the sale of goods or services that display the mark. These license agreements must contain certain provisions to protect the owner’s rights in the mark, and should not be entered into without consulting a competent attorney.