One area which is often overlooked is the licensing of your trademark rights to a manufacturer. If you license the right to produce your product to a manufacturer, you must also make sure that you own the right to the trademark or brand name which the manufacturer is using or plans to use. If the manufacturer wants to use its own selected name for the product, you should not allow the manufacturer to own the rights to that name. If, under your license agreement, the manufacturer loses its right to manufacture your product (for example, failing to meet a minimum annual sales quota), then you can cancel the license agreement and give the manufacturing rights to another manufacturer. In that event, you must also make sure that the rights to use the trademarks which are associated with the product (such as brand names, letters, numbers, combinations of words, letters, numbers, logos, slogans, jingles and graphic designs) are also canceled and transferred to the new manufacturer. If you are unable to do this because the original manufacturer still owns the trademarks, then you and the new manufacturer are at a huge disadvantage since the public knows your product by the original brand name, not by any new name which you may have to select. As far as the public is concerned, the product appears to be new because the trademarked names are new. This can cause you enormous loss.