Trademark Clause In Partnership Agreement

In accordance with general practice, a full-fledged license is implemented in order to further avoid complexities. A possibility of mutual settlement in private is also open to co-owners. The parties to the co-ownership of the brand can transfer the brand on the basis of “buy me/buy you” clauses. In addition, the parties may, jointly, sell/assign/assign the trademark to a new party who may be interested in transactions under the trade name. This type of comparison is seen when the parties no longer have an interest in fully using the mark at resolution. The proceeds of these transactions are generally distributed equally among the parties participating in the co-ownership. The co-owners of the common brand are responsible for the use and the goods and services provided under the trademark. However, no individual user of the common mark may exercise full control over the mark or the resulting goodwill. . .

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