Agreement for Use of
Trade Mark
AGREEMENT made at
__________this ___________day of ___________between Mr. _______________ carrying
on business at _____________Hereinafter referred to as `the Licensor' of the
One Part and Mr. _____________carrying on business at ____________ Hereinafter
referred to as the Licensee of the Other Part.
WHEREAS
1.
The
Licensor is the registered owner of a trade mark in connection with the goods
known as ____________ and which trade mark is registered under the Trade and
Merchandise Marks Act, 1999, and particulars thereof are given in the
Schedule hereunder written.
2.
The
Licensor is suspending his business for some time in the area of
____________and, therefore at the request of the Licensee proposes to allow the
Licensees to use the said Trade Mark for some time in the said area for sale of
similar goods manufactured and sold by him on the following terms and
conditions:
NOW IT IS AGREED BY
AND BETWEEN THE PARTIES HERETO AS FOLLOWS
1. The Licensor hereby
gives license or permission to the Licensee to use the said trade mark
particulars whereof is given in the Schedule hereunder written for sale of
similar goods (as that manufactured by the Licensor) now being manufactured and
sold by the Licensee provided that, the said goods are wholly manufactured by
the Licensee alone.
2. The Licensee
undertakes that the said goods will be sold by him under the said trade mark in
the said area only.
3. The Licensee will not
be entitled to assign the said trade mark to or allow it to be used by any
other person.
4. The duration of this agreement
will be for a period of two years from the date hereof.
5. The Licensee will not
do any act whereby the registration of the said trademark will be jeopardized.
6. The Licensee
guarantees that the quality of the said goods to be manufactured and sold by
him will be the same as that of the goods manufactured and sold by the
Licensor.
7. The Licensee shall,
in consideration of the grant of this License, pay to the Licensor a sum of
Rs___________ per month as royalty, and such payment will be made on or before
the 5th day of each month in advance for that month. The amount for the current
month has been made on the execution of these presents and each subsequent
payment will be made on or before the 5th day of each succeeding month.
8. The Licensor will be
entitled to inspect and to inquire as to whether the said trademark is being
properly used and the quality of the goods is as per the standard laid down by
the Licensor.
9. If any person is
found to infringe the said Trade Mark the Licensee shall immediately inform the
Licensor to enable the Licensor to take suitable action in the matter.
10. The Licensor will
have no objection to the Licensee applying to the Registrar of Trade Marks for
his being registered as a registered user of the trademark in the said area
under the said Act.
11. The Licensor agrees
and undertakes that while selling the goods, in the said area, the Licensee
will, indicate that the trade mark is being used only by way of permitted use.
12. If the Licensee
commits breach of any of the terms hereof the Licensor shall be entitled to
cancel this agreement by giving fifteen days prior notice to the Licensee to
that effect.
13. On the termination of
the Licensee hereby granted by efflux of time or otherwise the Licensee shall
stop using the said trade mark for sale of his goods and if he does not do so
he will be liable to pay compensation to the Licensor at the rate of
Rs._____________ per day of such user.
IN WITNESS WHEREOF
THE PARTIES hereto have put their respective hands the day and year first
hereinabove written.
THE SCHEDULE ABOVE
REFERRED TO
Signed and delivered by the within named Licensor
Mr.........................
In the presence
of........................
Signed and delivered by the within
named Licensee Mr.......................
In the presence of............................
