A collateral agreement is any agreement wherein any asset (property, jewelleries, bank papers or any thing of substantial value) is kept as a guarantee for obtaining any loan in particular. Such a collateral agreement, when used for the purpose of gaining a trademark license, is termed as trademark collateral agreement. As with any normal trademark agreement, the owner of the trademark entitles a person or a business organization with the authority of using a particular trademark.
The agreement must contain the proper guidelines as to how the trademark is to be used. It must also state clearly the business of the licensee and also the different ways and means in which the trademark can be used for the publicity of the business. Being a collateral agreement, the terms and conditions become all the more stringent and must be carefully read and understood by both parties. Any deviation from the said terms may result in the licensee losing its collateral.
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