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60-460: Tom Potter is a bumbling real estate agent who resides at 611 Elm Street in Las Palmas , California . As the only male member of his household, his entire life away from the office is dominated by females. Residing with him are his wife Fran; three daughters (15-year-old Carol, 11-year-old Debbie, and 7-year-old Sissie); Fran's mother, Grandma Irene Brady, a skeptic who Tom calls "Mother Brady;"

120-416: A broadcast radio or television station ), or it permits the licensed party to do something that would violate the rights of the licensing party (e.g. make copies of a copyrighted work ), which, without the license, the licensed party could be sued, civilly, criminally, or both. In particular, a license may be issued by authorities, to allow an activity that would otherwise be forbidden. It may require paying

180-456: A branch office manager may or may not require a broker's license. Some states allow licensed attorneys to become real estate brokers without taking any exam. In some states, there are no "salespeople" as all licensees are brokers. Real Estate Services are also called trading services Flat-fee real estate agents charge a seller of a property a flat fee, $ 500 for example, as opposed to a traditional or full-service real estate agent who charges

240-404: A fee or proving a capability (or both). The requirement may also serve to keep the authorities informed on a type of activity, and to allow them to set conditions and limitations. A licensor may grant a license under intellectual property laws to authorize a use (such as copying software or using a patented invention) to a licensee, sparing the licensee from a claim of infringement brought by

300-460: A license issued by a government, the license is obtained by applying for it. In the case of a private party, it is by a specific agreement, usually in writing (such as a lease or other contract). The simplest definition is "A license is a promise not to sue", because a license usually either permits the licensed party to engage in an illegal activity, and subject to prosecution, without the license (e.g. fishing , driving an automobile , or operating

360-430: A limited number of computers. The enforceability of end-user license agreements is sometimes questioned . As of 2020, there are various ways to license software with different kinds of licensing models, which allow software vendors to profit from their product offerings in flexible ways. Like other intellectual property, patent owners may grant permission to others to engage in conduct that would otherwise be within

420-404: A particular geographic region, just for a certain period of time or merely for a stage in the value chain . Moreover, there are different types of fees within the trademark and brand licensing. The first form demands a fee independent of sales and profits , the second type of license fee is dependent on the productivity of the licensee. For example, McDonald's licenses their trademark such as

480-420: A percentage of the sale price. In exchange, the seller's property will appear in the multiple listing service (MLS), but the seller will represent him or herself when showing the property and negotiating a sales price. The result is the seller pays less commission overall (roughly half) when the property sells. This is because a seller will pay a percentage of the sales price to a buyer's agent but not have to pay

540-409: A percentage to a seller's agent (because there isn't one; the seller is representing himself). In consideration of the brokerage successfully finding a buyer for the property, a broker anticipates receiving a commission for the services the brokerage has provided. Usually, the payment of a commission to the brokerage is contingent upon finding a buyer for the real estate, the successful negotiation of

600-476: A permission to a licensee to copy and distribute copyrighted works such as "art" (e.g., Thomas Kinkade 's painting Dawn in Los Gato ) and characters (e.g., Mickey Mouse ). With such license, a licensee need not fear a claim of copyright infringement brought by the copyright owner. Artistic license is, however, not related to the aforementioned license. It is a euphemism that denotes freedom of expression,

660-589: A person who holds a licentiate. In English, the degree has never been called a license. In France, the licence is the first degree awarded in Universities. In Sweden , Finland, and in some other European university systems, a 'licentiate' is a postgraduate degree between the master's degree and the doctorate. The licentiate is a popular choice in those countries where a full doctoral degree would take five or more years to achieve. A license to driving certain vehicles has been applied to many countries around

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720-478: A probation officer and only living at an approved address, in exchange for their early release. If they break the conditions of the licence, they can be "recalled" (returned to prison). Offenders serving determinate sentences are released automatically at a set point in their sentence, whereas prisoners serving indeterminate sentences (e.g. life imprisonment ) can only be released by the parole board . Patent licensing has been studied in formal economic models in

780-503: A purchase contract between the buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller. Under common law, a real estate broker is eligible to receive their commission, regardless of whether the sale actually takes place, once they secure a buyer who is ready, willing, and able to purchase the dwelling. Economist Steven D. Levitt famously argued in his 2005 book Freakonomics that real estate brokers have an inherent conflict of interest with

840-487: A real estate transaction. However, licensing as a broker or salesperson authorizes the licensee to legally represent parties on either side of a transaction and providing the necessary documentation for the legal transfer of real property. This business decision is for the licensee to decide. They are fines for people acting as real estate agents when not licensed by the state. In the United Kingdom, an estate agent

900-438: A salesperson may decide to become licensed as a real estate broker (or Principal/qualifying broker) in order to own, manage, or operate their own brokerage. In addition, some states allow college graduates to apply for a broker's license without years of experience. College graduates fall into this category once they have completed the state-required courses as well. California allows licensed attorneys to become brokers upon passing

960-450: A service to provide legal documentation on the transfer real property, the term "real estate salesperson" may have been more appropriate than it is today, given the various ways that brokers and licensees now help buyers through the legal process of transferring real property. Legally, however, the term "salesperson" is still used in many states to describe a real estate licensee . After gaining some years of experience in real estate sales,

1020-462: A single agent or no brokerage relationship is established, in writing, with the customer" and the statute required written disclosure of the transaction brokerage relationship to the buyer or seller customer only through July 1, 2008. In the case of both Florida and Colorado, dual agency and sub-agency (where both listing and selling agents represent the seller) no longer exist. Other brokers and agents may focus on representing buyers or tenants in

1080-406: A third party would amount to copying or infringement. Such copying would be improper and could, by using the legal system, be stopped if the intellectual property owner wanted to do so. Intellectual property licensing plays a major role in business, academia and broadcasting. Business practices such as franchising , technology transfer , publication and character merchandising entirely depend on

1140-494: A transaction by bringing a willing buyer and a willing seller together and provides the legal documentation of the details of the legal agreement between the same. The Transaction Broker is not a fiduciary of any party, but must abide by the law as well as professional and ethical standards." (such as NAR Code of Ethics ). The result was that, in 2003, Florida created a system where the default brokerage relationship had "all licensees ... operating as transaction brokers, unless

1200-559: Is a person or business entity whose business is to market real estate on behalf of clients. There are significant differences between the actions, powers, obligations, and liabilities of brokers and estate agents in each country, as different countries take markedly different approaches to the marketing and selling of real property. Before the Multiple Listing Service (MLS) was introduced in 1967, when brokers (and their licensees) only represented sellers by providing

1260-496: Is all the service that is being requested by the client. Lawyers would still need to be licensed as a broker if they wish to perform licensed activities. Nevertheless, lawyers do get a break in the minimum education requirements (for example, 90 hours in Illinois). Some other states have recently eliminated the salesperson's license, instead, all licensees in those states automatically earn their broker's license. The term "agent"

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1320-487: Is expected in return, then a license is not needed to perform all the work. However, since most people would expect to be compensated for their efforts and skills, a license would be required by law before a person may receive remuneration for services rendered as a real estate broker or agent. Unlicensed activity is illegal and the state real estate commission has the authority to fine people who are acting as real estate licensees, but buyers and sellers acting as principals in

1380-427: Is not realistic, leading to an inappropriate tempo and defeating the effort at farce. Ewell promised that changes in the show's writing and acting to address these problems would be apparent beginning with the episode ("Site Unseen") broadcast on December 6, 1960. The Potter family pets, Mitzi the dog and a parakeet, also were dropped from the series, Ewell explaining that acting with the animals had proven not to be worth

1440-401: Is not revocable by the licensor without exposure to liability and potential damages. In the event a license is coupled with an interest, the licensor must provide reasonable time for the licensee to remove that interest from the property prior to termination. Additionally, because a license does not confer any possessory interest in the licensee, in the event of a sale of the property, the license

1500-419: Is not to be confused with salesperson or broker. An agent is simply a licensee that has entered into an agency relationship with a client. A broker can also be an agent for a client. It is commonly the firm that has the actual legal relationship with the client through one of their sales staff, be they salespersons or brokers. In all states, the real estate licensee must disclose to prospective buyers and sellers

1560-407: Is terminated and cannot be enforced against the new owners of that property. Moreover, the death of either the licensee or licensor will terminate the agreement. If a license is revocable at will by the licensor, courts will be unable to grant specific performance in favor of the licensee. A licensee would be unsuccessful in bringing forcible entry claims or a detainer proceeding because the licensee

1620-512: The romantic comedy film The Seven Year Itch with Marilyn Monroe in 1955 and the musical comedy The Girl Can't Help It with Jayne Mansfield and Edmond O'Brien in 1956, made his television debut in The Tom Ewell Show . Madelyn Martin and Bob Carroll, Jr. (of The Lucy Show fame) created the show, and Ewell's own production company produced it in partnership with Martin and Carroll and with Four Star Productions . It

1680-402: The " Golden Arches " or the " Big Mac ", but the licenses gives McDonald's a right to impose strict quality standards to their franchisees as they can take back the right to the trademark if they do not meet McDonald's standards. When a licensor grants permission to a licensee to not only distribute, but manufacture a patented product, it is known as licensed production . A licensor may grant

1740-468: The United States, a person must have a license to perform licensed activities, and these activities are defined within the statutes of each state. The main feature of the requirement for having a license to perform those activities is the work done "for compensation". Hence, hypothetically, if a person wants to help a friend out in either selling or buying a property, and no compensation of any kind

1800-954: The United States, the term realtor is trademarked by the National Association of Realtors , which uses it to refer to its active members, who may be real estate agents or brokers. In Canada, the trademark is used by members of the Canadian Real Estate Association . Both organizations advise against the use of realtor as a generic synonym for real estate agent . States issue licenses for an annual or multi-year period and require real estate agents and brokers to complete continuing education prior to renewing their licenses. For example, California licensees must complete 45 hours of continuing education every 4 years in topics such as agency, trust fund handling, consumer protection , fair housing, ethics, and risk management. Several notable groups exist to promote

1860-399: The ability to make the subject appear more engaging or attractive, by fictionalizing part of the subject. A licentiate is an academic degree that traditionally conferred the license to teach at a university or to practice a particular profession. The term survived despite the fact that nowadays a doctorate is typically needed in order to teach at a university. The term is also used for

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1920-561: The average sale price. Real estate brokers who work with lenders can not receive any compensation from the lender for referring a residential client to a specific lender. To do so would be a violation of a United States federal law known as the Real Estate Settlement Procedures Act (RESPA). RESPA ensures that buyers and sellers are given adequate notice of the Real Estate settlement process. In

1980-456: The broker exam without having to take the requisite courses required of an agent. Commonly more coursework and a broker's state exam on real estate law must be passed. Upon obtaining a broker's license, a real estate agent may continue to work for another broker in a similar capacity as before (often referred to as a broker associate or associate broker) or take charge of their own brokerage and hire other salespersons (or broker), licensees. Becoming

2040-403: The developer of that software. Such license is typically included in a more extensive end-user license agreement (EULA) entered into upon the installation of that software on a computer. Typically, a license is associated with a unique code, that when approved grants the end user access to the software in question. Under a typical end-user license agreement, the user may install the software on

2100-717: The effort. The new approach Ewell described in December 1960 did not save The Tom Ewell Show . A television article carried in the April 4, 1961, edition of The Herald and Review of Decatur , Illinois , stated that " The Tom Ewell Show probably will be dropped in July [1961]." The Tom Ewell Show lasted a single season. Its 32 episodes were broadcast in the United States on CBS at 9:00 PM Eastern Time on Tuesday nights from September 27, 1960, through May 23, 1961. Eight of

2160-424: The episodes were shown as summer repeats in the same timeslot from May 30, 1961, through July 18, 1961. SOURCES Real estate agent Real estate agents and real estate brokers are people who represent sellers or buyers of real estate or real property . While a broker may work independently, an agent usually works under a licensed broker to represent clients. Brokers and agents are licensed by

2220-507: The family dog, Mitzi; and a parakeet . Other people in Tom's life include his co-worker Howie Fletcher, his heavy-set friend Jim Rafferty, and Stanley, a neighborhood boy. Tom faces constant challenges as he tries to navigate life in a woman's world. A big sports fan, he longs for male companionship, but his attempts at male bonding often lead to problems at home with his wife, daughters, and mother-in-law. Comic actor Tom Ewell , who had starred in

2280-432: The field of industrial organization . In particular, Katz and Shapiro (1986) have explored the optimal licensing strategy of a research lab selling to firms who are competitors on the product market. It turns out that (compared to the welfare-maximizing solution) the licensor's incentives to develop innovations may be excessive, while the licensor's incentives to disseminate the innovation are typically too low. Subsequently,

2340-415: The field of industrial electronics). Often, patent owners will require a licensee to pay money in exchange for granting a patent license. Such payments are referred to as royalty payments and come primarily in two forms: lump sum or running royalty. A lump sum royalty involves an upfront, one-time payment, while a running royalty typically involves periodic payments ( e.g., quarterly or annual) based on

2400-405: The land. Once a license is agreed upon, the licensee may occupy the land only so far as is necessary to complete the act. Another key distinction between a license and a lease is that leases are generally required to be in writing, where the statute of frauds requires it, while licenses can be made orally. A license is generally created by an express or implied agreement. The licensor must agree to

2460-424: The license which can be shown in writing or the licensors acquiescence in its exercise. Furthermore, unlike many other contractual agreements, a license does not require consideration, a license can be created with or without it. Moreover, whether an agreement is held to be a "license" and not a lease will depend on three essential characteristics of a license: (1) a clause allowing the licensor to revoke "at will"; (2)

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2520-432: The licensee is the only person or entity that is allowed to sell, make, use, offer to sell, or import the patented invention) or non-exclusive ( i.e., the licensee is simply one of several entities who has rights under the patent). Finally, any rights given under the agreement may be limited to a particular "field of use" ( e.g., a licensee may be able to practice an invention in the field of consumer electronics, but not in

2580-448: The licensing of intellectual property. Land licensing (proprietary licensing) and IP licensing. A license provides one party with the authority to act on another's land, when such action would typically amount to trespass absent that license. A key distinction between licenses and leases is that a license grants the licensee a revocable non-assignable privilege to act upon the land of the licensor, without granting any possessory interest in

2640-457: The licensor. A license under intellectual property commonly has several components beyond the grant itself, including a term , territory , renewal provisions, and other limitations deemed vital to the licensor. Term: many licenses are valid for a particular length of time. This protects the licensor should the value of the license increase, or market conditions change. It also preserves enforceability by ensuring that no license extends beyond

2700-501: The nature of their relationship Some U.S. state real estate commissions – notably Florida's after 1992 (and extended in 2003) and Colorado's after 1994 (with changes in 2003) created the option of having no agency or fiduciary relationship between brokers and sellers or buyers. As noted by the South Broward Board of Realtors, Inc. in a letter to State of Florida legislative committees: "The Transaction Broker crafts

2760-404: The number of patented products sold or imported. A licensor may grant permission to a licensee to distribute products under a trademark . With such a license, the licensee may use the trademark without fear of a claim of trademark infringement by the licensor. The assignment of a license often depends on specific contractual terms . The most common terms are, that a license is only applicable for

2820-493: The optimal number of licenses in a signalling model. The provision of licenses and the agencies that mandate them are often criticised by American libertarians like Milton Friedman for creating an anticompetitive environment for occupations, which creates a barrier to entry for more qualified and skilled individuals who may not have the resources to obtain the necessary licences. According to Friedman, licenses and permits have become so burdensome due to legislation that favors

2880-409: The real estate industry and to assist professionals. License A license ( American English ) or licence ( Commonwealth English ) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit). A license is granted by a party (licensor) to another party (licensee) as an element of an agreement between those parties. In the case of

2940-464: The retention by the licensor of absolute control over the premises; and (3) the licensor's supplying to the licensee all of the essential services required for the licensee's permitted use of the premises. Under a pure licensing agreement, the licensor, under its terms and by common-law, can cancel the agreement at will and without cause, unless it is coupled with an interest or made irrevocable by contract. A license that has been coupled with an interest

3000-416: The sale or purchase of real estate are usually not required to be licensed. It is important to note that in some states, lawyers handle real estate sales for compensation without being licensed as brokers or agents. However, even lawyers can only perform real estate activities that are incidental to their original work as a lawyer. It cannot be the case that a lawyer can become a seller's selling agent if that

3060-452: The scope of a patent. For example, a patent owner may authorize a licensee to make, use, sell, offer for sale, or import a patented product. Such agreements are typically referred to as a patent license agreement or a covenant not to sue . These agreements can last for a specific period of time (such as five years) or for the entire life of the patent ( i.e., until the patent expires). Patent license agreements may also be exclusive ( i.e.,

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3120-507: The sellers they represent because their commission gives them more motivation to sell quickly than to sell at a higher price. Levitt supported his argument with a study finding brokers tend to put their own houses on the market for longer and receive higher prices for them compared to when working for their clients. He concluded that broker commissions will reduce in future. A 2008 study by other economists found that when comparing brokerage without listing services, brokerage significantly reduced

3180-509: The seminal work of Katz and Shapiro (1986) has been extended in several directions. For example, Bhattacharya, Glazer, and Sappington (1992) have taken into account that the firms acquiring licenses must make further investments in order to develop marketable products. Schmitz (2002, 2007) has shown that asymmetric information due to adverse selection or moral hazard may lead the research lab to sell more licenses than it would do under complete information. Antelo and Sampayo (2017) have studied

3240-474: The show after its debut episode and found some positive ones, but also discovered that the negative reviews reflected two main concerns he also had about the show's writing and performances, i.e., that it depicted the Tom Potter character as "too much of a boob," with too great a focus on his ineptness rather than on "real comedy," and that it attempted "to play farce in a realistic situation" even though farce

3300-420: The state to negotiate sales agreements and manage the documentation required for closing real estate transactions. A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region. In most jurisdictions in

3360-508: The term of the agreement. Territory: a license may stipulate what territory the rights pertain to. For example, a license with a territory limited to "North America" (Mexico/United States/Canada) would not permit a licensee any protection from actions for use in Japan. Again, a shorthand definition of a license is "a promise by the licensor not to sue the licensee". That means without a license any use or exploitation of intellectual property by

3420-475: The terms expiration may raise breach of contract claims that could provide damages against the licensor. Furthermore, once the licensor terminates or revokes the license, notice is statutorily required prior to the commencement of any special proceeding to recover possession of the property (e.g., in NY that requirement is 10 days). Mass distributed software is used by individuals on personal computers under license from

3480-416: The world. Being allowed to drive a certain vehicle requires a specific driving license, the type of license depending on the type of vehicle. In the United Kingdom prisoners serving a determinate sentence (a fixed time in prison) will be released prior to the completion of their full sentence "on licence". The licence is the prisoner's agreement to maintain certain conditions, such as periodic reporting in to

3540-403: Was never granted any possessory interest. The Licensee would also not be able to recover damages for money spent unless they are able to show detrimental reliance on the license. In certain cases, however, licenses can be made irrevocable, and specific performance may be granted. Where a license is made with a set term period and valid consideration is transferred, revocation of the license prior to

3600-538: Was sponsored alternately by The Quaker Oats Company and Procter & Gamble . Sherry Alberoni , who played Debbie Potter, was a former Mouseketeer . In a review published in its October 10, 1960, edition, TIME magazine said: After its debut in September 1960, The Tom Ewell Show struggled in the ratings. In an interview with Associated Press television critic Cynthia Lowry published on December 4, 1960, Ewell explained that he had examined early reviews of

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