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Collegiate License ProgramThe license brochure has several examples of artwork that are being produced by current vendors however, please note that this is not a complete list of art and should in no way limit the scope of your designs. To help us with the processing of your application, please be certain to indicate the type of business entity, in addition it is not necessary to indicate the effective date of the contract it will be based upon the final approval date. Finally, please ensure that the application is signed and the licensing fee is enclosed. If at any time you have a question or need assistance, please feel free to contact Auxiliary Services at (936)261-1700. FACT SHEET Grant: Subject to the terms and conditions of the non-exclusive licensing agreement, Prairie View A&M University grants the registered service marks on quality products in the designated territories. Term/Contract Year: Two year period, unless sooner terminated pursuant to other provisions within the agreement. The first "Contract Year" may be less than twelve months, beginning on the effective date and terminating on the next December 31. Termination: Prairie View A&M University may terminate upon 30 days notice if licensee fails to adhere to the terms of the agreement. Royalties: 7.5% of the gross sales price of all licensed products sold by licensee or any of its subsidiaries, divisions or affiliates: $100 minimum royalty during each year, which ever would be the largest. License Issue Fee: A $100 license issue fee will be collected on or before the effective date of the contract. This fee is not an advance toward royalties that may become due from the sale of licensed products, and is required for each contract renewal. Reporting: Licensee must report sales and pay royalties within 30 days of the end of each quarter: March, June, September and December. Reports should be sent to the Department of Auxiliary Services, P.O. Box 519 MS 1403, Prairie View, Texas 77446. |
