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.
Puerto Rico Trademark License Agreement with College or University is a legal contract that grants permission to a college or university within the territory of Puerto Rico to use and display a trademark in its various activities. This agreement outlines the terms and conditions for the licensing, usage, and protection of the trademark. Outlined below are different types of Puerto Rico Trademark License Agreements that a college or university may enter into: 1. Exclusive Trademark License Agreement: This type of agreement provides the college or university with exclusive rights to use the trademark within the designated territory of Puerto Rico. It prohibits other entities from using the same or similar mark within that geographical area, ensuring the uniqueness and recognition of the institution's brand. 2. Non-Exclusive Trademark License Agreement: This agreement grants the college or university a non-exclusive right to use the trademark. Other entities may also have permission to use the same or similar mark within Puerto Rico, allowing for broader brand exposure. 3. Limited Use Trademark License Agreement: This type of agreement restricts the usage of the trademark to specific purposes or activities defined by the licensor. For instance, a college or university may only be permitted to use the trademark on official merchandise or promotional materials. 4. Royalty-Based Trademark License Agreement: Under this agreement, the college or university pays royalties to the trademark owner for the use of their mark. The royalty amount is typically a percentage of the institution's sales revenue generated from products or services associated with the licensed trademark. 5. Term-based Trademark License Agreement: This agreement specifies the duration of the licensing agreement. It could be for a specific number of years, allowing the college or university to use the trademark only within that timeframe. Alternatively, it may be an evergreen agreement that continues until either party terminates the contract. The Puerto Rico Trademark License Agreement with College or University includes essential provisions such as licensing fees, quality control requirements, limitations on the sublicensing of the trademark, termination clauses, and procedures for dispute resolution. Additionally, it may address trademark infringement issues and define the responsibilities of both parties regarding the enforcement of intellectual property rights. It is essential for colleges and universities in Puerto Rico to secure trademark license agreements to protect their brand identity, maintain exclusivity and quality standards, and avoid potential legal conflicts.
