Who owns the trademarks described in Item 13 for Crown Gold Exchange?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
WAM Gold, LLC, our affiliate, owns the trademarks described in this Item. Under an Intercompany License Agreement between us and WAM Gold, LLC, we have been granted the exclusive right to sublicense the trademarks to franchisees throughout the United States. The agreement is of perpetual duration. It may be modified only by mutual consent of the parties. It may be canceled by our affiliate only if (1) we materially misuse the trademarks and fail to correct the misuse, or (2) we discontinue commercial use of the trademarks for a continuous period of more than one year. The Intercompany License Agreement specifies that if it is ever terminated, your franchise rights will remain unaffected.
Source: Item 13 — TRADEMARKS (FDD pages 26–27)
What This Means (2024 FDD)
According to Crown Gold Exchange's 2024 Franchise Disclosure Document, the trademarks described in Item 13 are owned by WAM Gold, LLC, which is an affiliate of Crown Gold Exchange. Crown Gold Exchange has been granted the exclusive right to sublicense these trademarks to its franchisees throughout the United States through an Intercompany License Agreement with WAM Gold, LLC. This agreement is perpetual and can only be modified by mutual consent of both parties. WAM Gold, LLC can cancel the agreement if Crown Gold Exchange misuses the trademarks and fails to correct the misuse, or if Crown Gold Exchange discontinues commercial use of the trademarks for more than one year. However, the agreement specifies that termination of the Intercompany License Agreement will not affect the franchisee's rights.
Crown Gold Exchange protects the franchisee's right to use the principal trademarks and will defend the franchisee (at its expense) against legal actions by a third party alleging infringement. Crown Gold Exchange will also indemnify the franchisee for expenses and damages if the legal action is resolved unfavorably to the franchisee. However, Crown Gold Exchange may require the franchisee to modify or discontinue using a trademark at the franchisee's expense.
The franchisee is obligated to notify Crown Gold Exchange of any use of, or claims to, a trademark identical or confusingly similar to the licensed trademark. Crown Gold Exchange has the right to control any administrative proceedings or litigation involving a trademark licensed to the franchisee. Crown Gold Exchange states that it is not aware of any superior prior rights or infringing uses that could materially affect the franchisee's use of the principal trademarks.