An agreement granting a third party a license to use trademarks, service marks, copyrights, or other intellectual property (IP) rights in a character, film, television program, video game, or other artistic property for the creation of consumer products for distribution, marketing, and sale. While drafted in favor of the licensor, this Standard Document aims to be reasonable and contains provisions that are common to negotiated merchandise license agreements. This Standard Document has integrated notes with important explanations and drafting and negotiating tips.