A trademark coexistence agreement is a legally binding contract between two parties that outlines how they will use similar trademarks without infringing on each other`s rights. It is a necessary document in situations where two parties have similar trademarks and want to avoid litigation.
A sample trademark coexistence agreement typically includes the following sections:
1. Introduction: This section provides an overview of the agreement and identifies the parties involved.
2. Recitals: The recitals section outlines the reasons for entering into the coexistence agreement, such as the desire to avoid infringement disputes and maintain the goodwill associated with the respective trademarks.
3. Definitions: In this section, key terms, such as «trademark,» «confusingly similar,» and «use,» are defined.
4. Scope of the Agreement: This section outlines the extent of the coexistence agreement, including the specific goods and services covered, the geographic regions where the trademarks may be used, and any limitations or restrictions on use.
5. Use of Trademarks: Here, the parties agree on how they will use their respective trademarks, such as how they will be displayed, whether they can be modified, and how they will be marketed.
6. Quality Control: This section sets out the standards and procedures for maintaining the quality of the goods or services offered under the trademarks.
7. Term and Termination: This section specifies the length of the agreement and how it can be terminated, such as by mutual agreement or by breach of the terms.
8. Dispute Resolution: In this section, the parties agree to a specific method of resolving any disputes that may arise under the agreement.
9. Representations and Warranties: This section contains statements by each party about their respective ownership and use of the trademarks.
10. Miscellaneous Provisions: This section includes any other terms that the parties may wish to include, such as assignments, notices, governing law, and confidentiality.
It is essential to have a trademark coexistence agreement drafted by a qualified attorney to ensure that it is legally sound and enforceable. A well-drafted agreement can help to prevent costly infringement disputes and protect the goodwill associated with the parties` trademarks.