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.
Indiana Trademark License Agreement with College or University is a legal contract that outlines the terms and conditions for the use of a college or university's trademark by a third party. This agreement allows the licensee to use the college or university's trademark on products, merchandise, or services, while ensuring that the intellectual property rights of the college or university are protected. Under the Indiana Trademark License Agreement with College or University, the licensee is granted a limited, non-exclusive, and non-transferable license to use the college or university's trademark. This agreement typically sets forth the specific terms regarding the use, duration, and territory of the license. It also outlines the obligations and responsibilities of both parties involved. There are different types of Indiana Trademark License Agreements with College or University, including: 1. Exclusive Trademark License Agreement: This type of agreement grants the licensee exclusive rights to use the college or university's trademark within a specific industry or territory. It prevents the college or university from licensing the same trademark to any other party within the designated area or market. 2. Non-Exclusive Trademark License Agreement: In this type of agreement, the licensee is granted non-exclusive rights to use the college or university's trademark. The college or university retains the right to license the same trademark to other parties, whether within the same industry or territory. 3. Limited Duration Trademark License Agreement: This agreement is for a specific period, typically for a particular event, promotion, or campaign. It allows the licensee to use the college or university's trademark during that specified time frame only. 4. Perpetual Trademark License Agreement: Unlike the limited duration agreement, this type of agreement grants the licensee ongoing, indefinite rights to use the college or university's trademark. The terms and conditions for renewal and termination are usually stated in this agreement. In summary, an Indiana Trademark License Agreement with College or University is a legally binding contract that allows a third party to use a college or university's trademark while safeguarding the intellectual property rights of the college or university. The different types of agreements include exclusive, non-exclusive, limited duration, and perpetual agreements, each defining specific terms and conditions for the license.
