The trademark collateral agreement is a mutual contract between the debtor and creditor whereas the debtor transfers its own trademark rights to the creditor as collateral. As per the agreement, the creditor or the Pledgor owns all the trademark registrations, applications and the names in return of the loan sanctioned to the Pledgee.
However, it does not mean that the debtor has lost total control over the trademark. In fact, the debtor manages the trademark. But, it will only be released fully from the creditor after the full payment of the loan amount. In case, the debtor is not able to repay the amount within the prescribed period of time, the trademark will fully be owned by the Pledgor.
Before accepting the trademark, the creditor check all the valuable information about trademark issue such as the details of the trademark registration and any type of legal issues associated with the trademark etc.
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