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TheraisaK
10-05-2009, 06:09 PM
Im just wondering if you can restrict the length of time (in an agreement) a buyout of all rights is good for (like 1 year, 5 years, etc.) or is a buyout considered for eternity?
Audentia
10-05-2009, 06:22 PM
It woudn't be a buyout if it wasn't forever. Then it would be a lease agreement for one year or however long.
TheraisaK
10-05-2009, 07:47 PM
Thanks! Just wanted to make sure I understood the conditions of it. :)
vtwin_gary
10-05-2009, 09:51 PM
that should be in the contract as a no compete clause, they are different amounts of time & different distances.
digizan
10-06-2009, 02:27 PM
I agree with Audi—a buyout is a buyout and would be permanent. You could grant an exclusive license for a specific amount of time, meaning that no one but the licensee would have the legal right to use the design (or photo, illustration, etc.) during that period.
Digi