What do the 'Marks' refer to in the Crown Gold Exchange franchise agreement?

According to Crown Gold Exchange's 2024 Franchise Disclosure Document, the term "Marks" refers to the trade name and logo contained on the Summary Page of the franchise agreement, as well as any other trade names, trademarks, service marks, and logos that Crown Gold Franchising specifies for use in a Crown Gold Exchange business.

For a prospective franchisee, this means they are only authorized to use the specific trademarks, service marks, and logos designated by Crown Gold Franchising. The franchisee must use these Marks in the manner that Crown Gold Franchising requires. The franchisee gains no ownership rights to these Marks, only the right to use them while operating the business under the franchise agreement. All goodwill associated with the Marks, including any goodwill generated by the franchisee's operation, accrues solely to the benefit of Crown Gold Franchising.

Crown Gold Franchising retains the right to modify or discontinue any of the Marks used within the system. The franchisee is obligated to comply with these changes at their own expense within a reasonable timeframe. This could involve updating signage, marketing materials, or other branded items to reflect the new Marks.

The agreement also addresses infringement issues. If a franchisee uses the Marks correctly and faces a third-party claim of infringement, Crown Gold Franchising will defend the franchisee and cover expenses and damages if the claim is unfavorable. The franchisee must promptly inform Crown Gold Franchising of any potential infringement of the Marks by a third party, and Crown Gold Franchising has the exclusive right to control any legal action related to the Marks. Furthermore, if the franchisee is an entity, it cannot use "Crown Gold Exchange" or similar names in its legal name.