Goodwill Associated with Marks Sample Clauses
The "Goodwill Associated with Marks" clause defines how the reputation and value (goodwill) connected to a trademark or service mark are treated in a contractual relationship. It typically clarifies that any goodwill generated through the use of the marks by a licensee or partner will accrue to the benefit of the mark owner, not the user. For example, if a franchisee uses a franchisor’s brand, any positive reputation built up through that use belongs to the franchisor. This clause ensures that the owner retains the full value and legal rights associated with their marks, preventing others from claiming ownership or benefit from the goodwill developed through use.
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Goodwill Associated with Marks. The parties agree that protection of the goodwill associated with their respective Marks and the protection of consumers against trademark confusion are of paramount importance to each of them. Accordingly, the parties covenant not to do anything that would damage the goodwill presently associated with the LVH Trademarks, the RIH Trademarks, the Resorts International Marks or the Resorts Trademarks, as the case may be, and to always cooperate with each other to prevent consumers from being confused as to the source or origin of the goods and services produced and marketed by each of them under their respective Marks.