Massachusetts Trademark Assignment and License Agreement Regarding Design Mark

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Multi-State
Control #:
US-1015BG
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Word; 
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Description

A "trademark" is a word, design or combination used by an individual or a business to identify its goods or services. In some cases a trademark can also be a sensory mark--a sound, a color or a smell. Trademarks protect names used to identify goods (or services) and their source of origin. The law protects trademarks in part because trademarked items tend to carry with them certain quality assurances. You may use any kind of name or symbol as a trademark to identify your product. A license is a contractual right that gives someone permission to do a certain activity or to use certain property owned by someone else. Licensing agreement is an agreement between two enterprises allowing one to sell the other's property such as products or services and to use their name, sales literature, trademarks, copyrights, etc. in a limited manner. The stylized logo (also known as a design mark) is used to register words and/or letters having a particular stylized appearance, a mark consisting of a design element, or a combination of stylized wording and design. In other words, a design mark can protect a logo with or without words.
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FAQ

A trademark is a sign capable of distinguishing the goods or services of one enterprise from those of other enterprises. Trademarks are protected by intellectual property rights.

A license agreement provides a person to use or occupy property without acquiring the rights of a tenant. Because of this, granting a license rather than a tenancy may seem appealing to landlords, however, simply labelling an agreement as a license does not make it a license.

Trade mark licence agreement granting a licensee the right to sell products covered by a registered trade mark, drafted in favour of the licensor.

The Act allows a registered proprietor to assign or license out the use of his trademark. The assignment and licensing can be made with or without the goodwill of the business concerned. A trademark need not be registered to be assigned or licensed.

A trademark licence is an agreement between a trademark owner (the licensor) and another entity (the licensee) in which the licensor permits the licensee to use its trademark for commercial purposes.

Section 2(1)(b) of the Trade Marks Act, 1999 states that assignment means an assignment of a trademark in writing by the act of the concerned parties. Both unregistered and registered trademarks can be assigned with or without the goodwill of the business.

A licensing agreement allows one party (the licensee) to use and/or earn revenue from the property of the owner (the licensor). Licensing agreements generate revenues, called royalties, earned by a company for allowing its copyrighted or patented material to be used by another company.

The word trademark can refer to both trademarks and service marks. A trademark is used for goods, while a service mark is used for services.

To put it summarily, in case of an assignment of a trademark, there is a change in the ownership of the registered brand and in case of licensing, the right in the trade mark continues to vest with the original owner but only few restricted rights to use the brand/mark are given to the third party.

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Massachusetts Trademark Assignment and License Agreement Regarding Design Mark