Exploitation of your IP

This chapter describes the exploitation of the intellectual property. An assignment of a registered trade mark must be in writing and signed by or legitimately held on behalf of the owner. A verbal agreement to assign may be enough to transfer what are known as the equitable rights in the registered trademarks, the right to benefit from the mark, and have it transferred in due course. It is found that if a license is granted on an exclusive basis, then for that territory, and term, no person other than the licensee may exploit the brand. A non-exclusive license is capable of being exploited by more than one licensee as well as the licensor if necessary. It is observed that if the registration is not undertaken within six months of the license, or assignment, the licensee/assignee can only claim damages for infringement from the date of registration of its interest.