Oregon Trademark Assignment and License Agreement
Description
How to fill out Trademark Assignment And License Agreement?
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FAQ
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.
The contract stipulates the type of agreement, the length of the relationship, payments and royalties that are due and when, and the extent to which licensing is allowed. Licensing also allows both parties to retain control over certain facets of the deal, including exclusivity and how a product or service is marketed.
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.
In Oregon, the cost of filing a trademark application with the Secretary of State's Office is $50. The submission takes anywhere from five to seven business days. You are not required to have an attorney, and your trademark is effective once filed. The trademark must be renewed every five years for a $50 renewal fee.
A trademark licensing agreement is a legal contract between a trademark owner and another party that have agreed to use the trademark on preapproved terms decided between the contracting parties.
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.
The licensee is the party that receives a license, while the licensor is the party that grants the license. For instance, when a bar owner gets a liquor license from the state where he operates his business, the owner is the licensee and the government that issued the license is the licensor.
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.
In a Trademark licence agreement the proprietor (Licensor) of a registered trademark gives authorization to another company (Licensee) to manufacture and distribute products under this trademark.
The party providing the intellectual property is called the licensor while the party receiving the intellectual property is called the licensee. In a licensing agreement, the licensee typically pays an upfront fee in conjunction with a royalty fee.
