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. While marks identifying services rather than goods are technically referred to a "service marks" we will use the term trademarks to include service marks. Trademarks protect names used to identify goods (or services) and their source of origin.
A license is a privilege entitling the licensee to do something that he would not be entitled to do without the license. To license or grant a license is to give permission. A license authorizes the holder to do something that he or she would not be entitled to do without the license. Licensing may be directed toward revenue raising purposes, or toward regulation of the licensed activity, or both.
A license regarding intellectual property commonly has several aspects, including a term, territory, renewal, as well as other limitations deemed vital to the licensor. A licensor may grant permission to a licensee to distribute products under a trademark or grant permission to a licensee to copy and distribute copyrighted works such as a work of art.
A Guam Trademark License Agreement with a College or University is a legal document that allows the college or university to use the trademark of a Guam-based entity. By entering into this agreement, the college or university gains the right to use the trademark for various purposes, including advertising, promotional activities, merchandise sale, and event organization. This agreement outlines the terms and conditions under which the college or university can utilize the Guam trademark. It addresses important details such as the scope of use, the specific trademark(s) covered by the agreement, and the permitted usage guidelines. The document also addresses the duration of the agreement, termination clauses, and any potential royalty or licensing fees associated with the use of the trademark. Different types of Guam Trademark License Agreements with Colleges or Universities may exist depending on the specific circumstances and parties involved. Some variations include: 1. Exclusive Trademark License Agreement: This type of agreement grants the college or university exclusive rights to use the Guam trademark within a designated geographic area or market sector. The licensor agrees not to license the trademark to any other entity within the specified parameters for the duration of the agreement. 2. Non-exclusive Trademark License Agreement: In this case, the college or university is granted non-exclusive rights to use the Guam trademark. The licensor reserves the right to also license the trademark to other entities. This type of agreement can be advantageous for the licensor as it enables broader market penetration for their trademark. 3. Limited Term Trademark License Agreement: This agreement has a predetermined expiration date after which the college or university can no longer use the Guam trademark. It may be suitable for projects or events with a specific timeline or campaigns that have a defined end date. 4. Perpetual Trademark License Agreement: Unlike the limited term agreement, this type of license has an indefinite duration, allowing the college or university to use the Guam trademark indefinitely as long as they fulfill the obligations outlined in the agreement. It is important for both the college or university and the licensor to clearly define their expectations, rights, and responsibilities within the Guam Trademark License Agreement. This legal document helps protect the intellectual property rights of the licensor while enabling the college or university to benefit from leveraging a recognized Guam trademark for various purposes.
