Document background
The Exclusive Use Agreement serves as a critical instrument for businesses seeking to establish protected, exclusive rights to use specific assets or properties. This document is particularly relevant when a rights owner wishes to grant sole usage rights to another party while maintaining ownership and control over the underlying asset. The agreement, governed by U.S. federal and state laws, typically includes specific provisions for territory, duration, payment terms, and usage restrictions. It's commonly used for intellectual property licensing, facility usage, or exclusive distribution arrangements, providing both parties with clear guidelines and protections for their respective rights and obligations.
