Draft Trademark License Agreement India
Trademarks are intellectual property that can be owned and licensed like any other property. The goodwill and reputation of a particular brand make it a fortune. Sometimes owners think it is lucrative to grant user rights to other distributors for royalties, provided they are able to exercise control over the goods and services used by the brand. Control by a registered holder is also a legal requirement whose absence may contribute to the dilution of specificity, as well as to customers deceived by inferior goods. The license of a trademark is described in the Trademark Act as the registration of a registered user. The T.M-28 registration form is established in accordance with the provisions of the 2002 mark and, beyond that, the establishment of a detailed agreement for the presentation of the terms and conditions. A trademark licensing agreement is a document between the registered owner of a trademark and a proposed licensee. The agreement sets out the conditions on which the licence is granted, the rights and control that the parties must exercise; permitted uses/restrictions and other factors such as royalties and legal requirements. There may be a number of payment options for licensing. How a trademark licensing agreement can be terminated by the licensee is important.
It may contain patterns of the following nature. The issuance of the licence must be described in detail. It includes the type of license to use the mark, which should not be transferable. All licensing issues must be noted here. 5. The licensee has the right to refuse the goods delivered if they do not comply with the specifications or qualifications communicated to the licensee, and in the event of a refusal, the licensee removes the refused products from the licensee`s premises at his own expense and, until they are withdrawn, they are at the risk of the purchaser. The licensee agrees that the licensee does not manufacture these products by someone else during the stay of this contract. 6. Ownership of this mark still remains in the hands of the licensee and the purchaser will not pass on those products as if he were the owner of that mark. 12. The licensee may, subject to the provisions of this Agreement, register as a registered user in accordance with the provisions of the Trade-Merchandise Marks Act 1958. A trademark licensing agreement should contain the following: details of regular verification of goods and processes and reporting to the licensee, if required by the purchaser, must be recorded.
The trademark holder must provide guarantees regarding the exclusive rights to the trademark and its rights to the trademark license. If so, the licensee should guarantee that such a licence has not been granted to any other distributor or licensee. The overall description of the brand is to be done here. Every detail in the combination of colors, words, shapes, symbols, labels, packaging or other representations must be documented. It is important to get protection. 11. If the licensee violates a clause in this agreement, the licensee has the right to terminate the contract up to fifteen days before the policyholder`s written termination and, at the end of the termination period, that contract is terminated, unless the infringing violation in question has been corrected to the satisfaction of the licensee. Ownership of the trademark belongs exclusively to the registered owner. It should be noted that at no time when the agreement is in force, or in any other way, does the purchaser claim any ownership of the mark. A description of the parties should be obtained, the nature of their transactions and the ownership of the proposed trademark to be licensed.