Abdul Muhammed Law Practice
Abdul Muhammed Law Practice has identified some essential points to note when registering your trademark license agreement with NOTAP.
By following these guidelines and meeting the specified requirements, you can increase the likelihood of successfully registering your Trademark License Agreement with the National Office for Technology Acquisition and Promotion (NOTAP) without having problems with your registeration.
Trademark eligibility
The condition for registration of a trademark license agreement is that the mark must be internationally recognized and locally registered.
The trademark should also have inherent know-how.
A Trademark License Agreement must be accompanied by a technical know-how agreement to ensure that the goods for which the trademark is to be used meet the specified standards.
Equity ownership limitation
The Transferor or an affiliate must not own more than 75% of the Nigerian company seeking a trademark license agreement registration with NOTAP.
Trademark agreement duration
Trademark Agreements are usually registered for a period of 3 years but are renewable.
Application requirements
The first application requirement is the submission of the Trademark License Agreement itself.
Secondly the agreement must clearly specify the net sales of locally manufactured goods covered by the trademark.
Thirdly the application must provide a statement of ownership structure of the company seeking the trademark license agreement.
The fourth requirement is to provide evidence of the registration of the trademark both locally and internationally. This evidence should include registration certificates or documentation from the relevant trademark authorities.
The fifth requirement is to produce all other documents as contained in the know-how agreement. These documents are essential for demonstrating the technical knowledge transfer associated with the trademark.
NOTAP registration period
Trademark Agreements have a standard initial registration period of 3 years, but they can be renewed.
Payment for NOTAP registration
Payment for the trademark license ranges between 0 – 5 percent of net sales. This payment is strictly allowed when the trademark is applied to goods that are locally manufactured.
Conclusion
It is important to ensure that the trademark is both internationally recognized and locally registered.
Be prepared to pay a percentage of net sales for the trademark license and also keep equity ownership within the specified limit of 75%.
