Licensing Agreements
A common way for an association to earn revenue and promote its mission is to enter into licensing agreements for the use of its intellectual property, including its programs, written materials, name, logos, and marketing materials. Licensing agreements must be carefully tailored so that a third-party is only given the right to use the association’s intellectual property for specific reasons and in a defined area. If a licensing agreement is unclear or overly broad, the association may dilute its ownership in its intellectual property and damage its reputation. GKG Law’s Association Practice Group works with associations to define the specific scope of licensing agreements, determine royalties, limit unrelated business income, and set forth restrictions for the use of its intellectual property.