OWNERSHIP AND INTELLECTUAL PROPERTY RIGHTS :
1. Both the Parties hereby acknowledge and agree that each Party is the absolute owner of all right, title and interest in respect of their own trade name, logo, trademark, copyright, device, label, colour combination, artwork and visual representation and they shall not, by virtue of this Agreement, assume activities under this Agreement or affiliation with the other Party, acquire or claim any interest in any such trade names or copyright belonging to and/or owned by the other Party.
2. Each Party shall at all times, render assistance in its power to restrain the infringement, passing-off, duplication, unauthorized use or colorable imitation of any such trade descriptions, logo, device, label, art work, trade names, trademarks or Copyrights.
3. Each Party hereby agrees and undertakes that it shall not register, use or file and/ or assist in and/ or allow registering, using or filing, either directly or indirectly, for itself or through, on behalf of or in conjunction with any person or legal entity and whether as principal, agent, shareholder, consultant, employee or in any capacity whatsoever, any trademarks/ service marks in any class, either alone or in combination with any other mark or material, which is similar and or identical and/ or resembling in any manner with the other party’s marks and/ or intellectual property rights of the other party and not to associate the other party marks and/ or intellectual property rights of the other party with its own business and/ or the business of any third party associated with it, except as contemplated under this Agreement.
4. Upon the termination of this Agreement for any reason, the Parties shall immediately cease to use other party’s marks and/ or intellectual property rights vested in the other party in any manner whatsoever.
5. Either Party shall not claim any right, title, or interest in the other party marks and/ or intellectual property rights vested in the other party and the same shall at all times continue to be the exclusive property of the other party.
5.1 Either party shall not directly or indirectly do anything which shall have an adverse impact on the other party’s marks and/ or intellectual property rights and/ or confidential information of the other party. In the event of termination of this Agreement the provisions of this Clause 10 shall survive the termination of this Agreement.
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