How to manage and exploit trade marks
Written by Murshida Khan, an under-graduate student of Law on 04 September 2014« Return to Reading Room
There are three methods of exploiting your Trade Mark:
This simply means that permission has been granted to use someone else’s trade mark thus a licence or an agreement has been created. In each licence, the terms that are agreed to are strictly between the licensor and the licensee. This then has to be recorded on the Trade Mark register via the TM50 form. There is a £50 fee per form. Once the licence has ended or if the details have been changed, this should then be updated via the TM51 form.
This is in relation to using a trade mark as security for a loan. This would mean until there is full repayment of the loan, the mortgagor has a legal right in your trade mark. This is known as a security interest. This needs to be registered by the mortgagor or yourself via the form TM24 for it to be recorded on the register. Once the loan has been repaid, the details on the register can then be cancelled by submitting the TM24C form. There is a £50 fee per form.
If you want to develop, involve others or market your trade mark, this can be done via numerous organizations within the region or nationally. Some of these organizations include Chamber of Commerce, Business Link and Business Eye. These organisations will help in terms of cost effective ideas in marketing your trade mark, including practical advice and ways to develop your trade mark.
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