A shelving clause in a contract stipulates that in order to utilise a patent or trademark, the individual must commence selling or manufacturing the patented item within a specified timeframe. Additionally, they are required to inform the patent or trademark owner if they cease selling or manufacturing it. Failure to comply with these regulations may result in the forfeiture of the right to use the patent or trademark.
A shelving clause, also known as an antishelving clause, is a provision in a patent-licensing or trademark licensing contract that mandates the licencee to commercially utilise the patented article or trademark within a specified timeframe. Additionally, the licencee must inform the patentee or trademark owner if they decide to discontinue selling or manufacturing the product. Failure to comply with this clause may result in the loss of the licence or exclusivity. The purpose of the shelving clause is to prevent the licencee from holding onto the patent or trademark without utilizing it, as this could negatively impact the business interests of the patentee or trademark owner.
A shelving clause is a provision in a contract that allows one party to temporarily suspend or delay the performance of their obligations under the contract.
A shelving clause may be included in a contract to provide flexibility in case unforeseen circumstances arise that make it difficult or impossible for one party to perform their obligations.
No, a shelving clause is not a way to avoid performing obligations altogether. It is only a temporary suspension or delay of performance.
The length of time a shelving clause can be in effect depends on the specific terms of the contract. It may be for a specific period of time or until certain conditions are met.
No, a shelving clause cannot be invoked unilaterally. Both parties must agree to the suspension or delay of performance.
The obligations that are suspended or delayed during the shelving period remain in effect and must be performed once the shelving period ends.
It depends on the specific terms of the contract. Some contracts may allow for termination during the shelving period, while others may not.
It depends on the specific terms of the contract. Some contracts may allow for damages to be sought during the shelving period, while others may not.
Yes, a party may invoke a shelving clause if they are experiencing financial difficulties that make it difficult or impossible to perform their obligations under the contract.
No, a party cannot invoke a shelving clause simply because they change their mind about performing their obligations. There must be a valid reason for invoking the clause, such as unforeseen circumstances or financial difficulties.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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