Licensing
I have a product that I hold a patent on. I have licensed this to a distributor / manufacturer. my question: If this licensee refuses to pay royalties, how long before the contract is voided by his failure to abide by the terms of the contract?
Re: Licensing
Undoubtedly in your next licensing agreement you will add a provision defining exactly how long the licensee has before becoming delinquent. I agree with Ms. Cowin. However, you may wish to review the Uniform Commercial Code for remedies, as there are several approaches you can take regarding your loss if the remedies are not spelled out in the licensing agreement.
Re: Licensing
Undoubtedly in your next licensing agreement you will add a provision defining exactly how long the licensee has before becoming delinquent. I agree with Ms. Cowin. However, you may wish to review the Uniform Commercial Code for remedies, as there are several approaches you can take regarding your loss if the remedies are not spelled out in the licensing agreement.
