This is an agreement whereby one party grants another party a licence to use a registered trade mark, in connection with either the supply of goods or services, in exchange for a royalty fee. A trade mark is any sign capable of being represented graphically and which can distinguish the goods or services of one trader from those of another. A trade mark can include words, (including personal names), designs, letters, numbers, logos, 3D shapes, smells and sounds. A trade mark is essentially a badge to show trade origin and is used to promote a particular product or service. Registration with the Patents Office is required to formally register a trade mark as belonging to a particular party.
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