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............................
[CD1]Agreement of License to Use a Trade Mark
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