With whom did Bigfoot Forestry enter into an Intellectual Property License Agreement?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
On June 14, 2024, we entered into an Intellectual Property License Agreement with ASCV (the "License Agreement"). Under the terms of the License Agreement, ASCV granted us the right to use the Marks in the Bigfoot Forestry System and sublicense the Marks to our franchisees. The term of the License Agreement automatically renews annually, unless it is terminated in accordance with its terms. ASCV is permitted to terminate the License Agreement only if we: (a) declare bankruptcy or become insolvent; (b) breach ASCV's quality control standards and fail to cure the breach within a 60-day cure period; or (c) consent to the termination. If the License Agreement is terminated, it states all sublicenses granted by us to our franchisees will continue in full force and effect until the expiration or termination of the applicable franchise agreement. No other agreements limit our right to use or sublicense use of the Marks.
Source: Item 13 — TRADEMARKS (FDD page 31)
What This Means (2025 FDD)
According to Bigfoot Forestry's 2025 Franchise Disclosure Document, the company entered into an Intellectual Property License Agreement with ASCV, identified as Atlantic Soul Capital Ventures, LLC, on June 14, 2024. This agreement grants Bigfoot Forestry the right to use specific trademarks within the Bigfoot Forestry system and to sublicense these marks to its franchisees.
The license agreement term renews automatically each year unless terminated according to its terms. ASCV can only terminate the agreement if Bigfoot Forestry declares bankruptcy or becomes insolvent, breaches ASCV's quality control standards without rectifying the breach within 60 days, or consents to the termination.
Importantly, the agreement specifies that if the License Agreement is terminated, all sublicenses granted by Bigfoot Forestry to its franchisees will remain effective until the individual franchise agreements expire or are terminated. This provision protects franchisees' rights to use the trademarks even if the overarching license between Bigfoot Forestry and ASCV is discontinued. This agreement does not limit Bigfoot Forestry's right to use or sublicense the marks.