What is the date of the License Agreement between Cream and Parent for the Marks?
Cream Franchise · 2025 FDDAnswer from 2025 FDD Document
We license the Marks from Parent under a License Agreement dated June 17, 2025 (the "License Agreement"). The term of the License Agreement will continue for 99 years from its effective date unless terminated. The License Agreement may be terminated (resulting in the loss of our right to use and to sublicense the use of the Marks to you) by mutual agreement of the parties, by us if Parent breaches its obligations and fails to cure such breach, or by Parent for a number of reasons, including if we default on any obligations, we are dissolved, or if we cease to be under Parent's control. All rights in and goodwill from the use of the Marks accrue to Parent. Except as described above, no agreement significantly limits our rights to use or sublicense the Marks in a manner material to the franchise.
Source: Item 13 — TRADEMARKS (FDD pages 39–40)
What This Means (2025 FDD)
According to Cream's 2025 Franchise Disclosure Document, Cream licenses its trademarks from Parent under a License Agreement. This License Agreement is dated June 17, 2025. The agreement remains in effect for 99 years from this date, unless it is terminated earlier.
The License Agreement can be terminated under certain conditions. These include mutual agreement between Cream and Parent, a breach of obligations by Parent that is not resolved, or specific events caused by Cream, such as defaulting on obligations, dissolution, or a change in control where Cream is no longer under Parent's control. The FDD specifies that all rights and goodwill associated with the use of the trademarks accrue to Parent.
For a prospective Cream franchisee, this means that the right to use Cream's trademarks is dependent on this License Agreement between Cream and its Parent company. If the License Agreement is terminated, Cream would lose the right to sublicense the trademarks to its franchisees, which could significantly impact the franchisee's ability to operate under the Cream brand. It is important for potential franchisees to understand the terms of this License Agreement and the potential risks associated with its termination.