Iota Phi Theta is a national Greek Letter organization and is the owner of registered trademarks bearing the shield of the Fraternity and the trade names Iota Phi Theta Fraternity and Greek letters representing the same.
Your company is engaged in the manufacture, sale, and/or distribution of various and sundry items generally used/desired by Greek Letter organizations.
In light of these considerations it is agreed that:
For the term of this agreement, the Fraternity grants to the company a limited non-
exclusive license to affix, use, and reproduce the Fraternity’s registered trademarks/trade names on the following items referred to as goods merchandise.
For the term of this agreement, the fraternity grants to the company a limited non-
exclusive license to sell its goods/merchandise, including that inventory which is not affixed with the Fraternity’s trademarks/trade name, at approved Fraternity Public functions.
Further it is understood: That the Fraternity:
Assumes no liability to the Company of to third parties with respect to the performance and/or characteristics of the goods/merchandise manufactured and/or sold by the company under the trademarks/trade names, or to the use of the trademarks/trade names, and also with respect to the performance characteristics of any other inventory sold by the company.
Shall provide the company with certain specifications relating to its trademarks/trade names
Shall have the right to inspect the goods/merchandise prior to its distribution or sale of such goods/merchandise if it does not substantially conform to the directions and specifications provided to the company
Shall approve the method of distribution or marketing of the goods/merchandise prior to any such distribution or marketing Shall have the right to prohibit and restrict the sale of any and all goods/merchandise by the company, including that inventory which is not affixed with the Fraternity’s trademarks/trade name at any of the Fraternity’s public functions if it appears that said items are not in keeping with an/or are contrary to the goals and objectives of the Fraternity. The right to restrict the sale shall not be capriciously or arbitrarily applied by the Fraternity.
That the Business Entity, Sole Proprietorship, Partnership, Corporation
Acknowledges the Fraternity’s exclusive right, title, and interest in, and to the trademarks/trade name and will not at any time do or cause to be done any act or thing contesting or in any way impairing or tending to impair any part of such right, title, and interest;
Shall not in any manner represent that it has any ownership in the trademarks/trade names or registration thereof, and the company acknowledges that the use of the trademarks/trade names shall inure to the benefit of the Fraternity.
Shall only use the registered trademarks/trade names in accordance with the specifications and directions furnished by the Fraternity to the company.
Shall indemnify and hold harmless the Fraternity against all losses, damages, and expenses including attorney fees, incurred as a result of, or related to, claims or third parties involving the manufacture or sale of the goods/merchandise at all other inventory.
Shall not transfer or assign this agreement/contract without first obtaining the prior written consent of the Fraternity and to the extent applicable, shall abide by the Fraternity’s National Meeting Rules and Regulations for Exhibitors/Vendors.