By
Lisa A. Lori
and Esq.
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Here is a cautionary tale to demonstrate this point. I represented a school that had licensed its name and crest to a T-shirt manufacturer. The parties had a "back of the napkin" type license agreement that, in the interest of saving money, was prepared without the assistance of a lawyer. Their license agreement provided for a royalty to be paid to the licensor (the school) based simply on net sales of the T-shirts, and an initial term of three years. The parties terminated the contract after the third year. However, the manufacturer continued to use my client's name and crest after this time. That's when my client called me, exasperated that the manufacturer would do such a thing.
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- People:
- Lisa A. Lori
- Places:
- Cleveland
Lisa A. Lori
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