II. Sale of the Product:
The Creative shall grant to Generations, Inc., the right to list the product on its website(s) and authorize Generations, Inc, to market, advertise or take whatever action Generations, Inc. deems necessary, in its sole discretion to sell the product. Upon completion of the sale of the product, Generations, Inc, shall deduct any expenses for shipping, the payment of taxes and any other fees imposed by federal, state or local governments and a commission of 10%. Payment to the Creative (or their designee) shall be made no later than 30 days after receipt of funds for the sale of the product.
III. Duration of the Listing Agreement:
This Listing Agreement shall remain in effect for one year from the date of the signing of this Listing Agreement. During the duration on the Listing Agreement, Generations, Inc., shall have the exclusive right to sell the product.
IV. Sale Price.
The price of the product will be fixed, unless the parties agree to modify the price of the product during the pendency of this Listing Agreement in writing. If the product is to be sold by auction, the minimum acceptable bid will be the price set forth above, In the event an auction does not produce a bid at or above the minimum bid, the product will be considered unsold.
V. Termination of the Listing Agreement.
Either party may terminate this Listing Agreement for any reason with 30 days notice, in writing, to the other party. Upon termination of the Listing Agreement, Generations, Inc., will no longer advertise, market or otherwise display the product on its website(s). However, if the product is sold during the pendency of the termination period, Generations, Inc., shall be entitled to its full commission.
VI. Warranties and Obligations of Generations, Inc.
Generations, Inc., will display the product on its website(s) for the duration of this Listing Agreement or until the product has been sold. Generations, Inc., does not warrant, promise or otherwise state that the product will be sold.
VII. Warranties and Obligations of the Creative Teen.
A. Copyright and Reproduction.
The Creative reserves all reproduction rights, including the right to claim statutory copyright, in the product. The product may not be photographed, sketched, painted, or reproduced in any manner whatsoever without the express, written consent of the Creative. The Creative does grant to Generations, Inc., the limited right to photograph and display the product on its website(s) and in other commercial advertising mediums for the purposes of marketing the product to the public for marketing purposes. The Creative is reminded that copyright protection is best secured by registering the product with the United States Copyright Office. Generations, Inc., is not responsible for obtaining, securing or verifying the existence of a valid copyright. Generations, Inc., recommends that the Creative consult with his/her own attorney concerning copyright protection.
B. Warranty.
The Creative warrants that he/she is the creator of the original product, has ownership of any copyright, trademark or any other form of intellectual property ownership related to the product. The Creative further warrants that he/she has not sold, transferred or otherwise lost ownership. The Creative further warrants that the product does not infringe on any copyright, trademark or other form of intellectual property owned by any third party
C. Indemnity and Hold Harmless Provision
The Creative agrees that in the event of any claim or lawsuit by any third-party alleging copyright infringement, trademark infringement of the theft of any third party’s intellectual property rights, the Creative shall hold Generations, Inc., harmless and shall indemnify (pay) Generations, Inc., for any cost associated with defending or settling any claim, including reasonable attorney’s fees.
VIII. Miscellaneous Provisions.
This Listing Agreement shall be binding upon the parties hereto, their heirs, successors, assigns, and personal representatives. This Listing Agreement constitutes the entire understanding between the parties. Its terms can be modified only by an instrument in writing signed by both parties. A waiver of any breach of any of the provisions of this Listing Agreement shall not be construed as a continuing waiver of other breaches of the same or other provisions hereof. This Listing Agreement shall be governed by the laws of the State of Maryland. IN WITNESS WHEREOF, the parties hereto have signed this Listing Agreement as of the date first set forth above.
