Trademark Clause In Partnership Agreement

April 13th, 2021

by Andrew Verboncouer

The brand was owned by one of the partners and thus became the property of the company. In other words, all partners have become owners of the trademark and copyright. The earlier termination of the previous partnership had completely dissolved the rights of the partners to the trademark. Although they have entered into another partnership and have used the mark as before, the partners and the company are not allowed to use the trademark because of a lack of rights. M/s YYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY, A company registered in India under the Indian Companies Act, 2013… claim to be the co-ownership of trademarks.¬†Regardless of the reasons for dissolution, if the two co-owners of the trademark agree to transfer to one of them the rights conferred on them under the provisions of the Trademark Act 1999 (by transfer), in order to pursue individual transactions under the same common trade name, the conditions they agreed upon at the time of dissolution. The partner grants SYB the right to use the partner`s business name and trademarks and to designate the partner as a reference partner in customer lists and other marketing materials and activities related to the Services, provided that this use is consistent with good business practices and promotes the reputation and goodwill of these partner names and brands. Under the Indian Trademark Act, the registration of a common trademark should be done in the following format: the co-owners of the common mark are responsible for the use and services provided under the brand. However, no user of the common mark can exercise total control over the brand or the resulting goodwill. Under Act TM, all co-owners of the trademark are treated jointly as owners of TM and it is not possible to quantify the rights in accordance with the provision of the Trademark Marks Act of 1999. While the financial result result of the use of shared TM can be quantified according to the conditions agreed upon upon entry into the said condominium.

They do not constitute or act representatives of SYB or its licensees and are not authorized to act on behalf of or on behalf of an agreement or other obligation on behalf of SYB or its licensees, or to provide a condition or other guarantee, or to represent on behalf of SYB or its licensees; and as a serial entrepreneur and business consultant, I am interested in the unique dynamics of business partnership.

Enjoy This Post? Share It!

Leave us a comment!