A "trade name license agreement" spells out the terms allowing the use of the trade name of another party such as Burger King, McDonald's or Subway. The typical trade name license agreement covers the following points:

• The name being licensed
• The uses allowed for the name
• The territory where the name can be used
• Whether the license is exclusive or nonexclusive
• The term of the license plus any renewal rights
• The fees to be paid