Common use of Trademark Disputes Clause in Contracts

Trademark Disputes. Each of the parties agrees that the protection of the Licensed Marks and their distinguishing characteristics is important to each party hereto. Accordingly, each party will notify the other of any infringement or dilution of or challenge to its use of the other party’s Licensed Marks and will not, absent a court order or the other party’s prior written consent, communicate with any person regarding any such infringement, dilution, challenge or claim. The respective Licensor will take the action it deems appropriate with respect to such challenges and claims, and shall have the sole right to handle disputes concerning use of all or any part of any ▇▇▇▇ it licenses to the other party under this Agreement. Each party will extend its full cooperation to the Licensor in protecting such Licensor’s rights. Each Licensee appoints the other as such Licensee’s exclusive attorney-in-fact, to prosecute, defend and/or settle all disputes of this type with respect to the Licensed Marks owned by such Licensor (but only for that purpose). Each party will sign any documents which the Licensor believes are necessary to prosecute, defend or settle any dispute or obtain protection for the Licensed Marks owned by such Licensor and will assign to the Licensor any claims that the Licensee may have related to these matters. Each Licensor’s decision as to the prosecution, defense and settlement of such dispute will be final. All recoveries made as a result of disputes regarding use of all or any part of the Licensed Marks will be for the account of the Licensor of such marks.