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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

Zenith Electronics, Inc. owned the mark QUARK and used it for wristwatches since 2010. In 2022, Zenith sold its business to NovaCore Holdings, Inc., including an express assignment of all marks used by Zenith, including QUARK. The assignment is in writing and signed but not recorded with IPOPHL. The sale contract also provides a six-month transitional license allowing Zenith to continue using QUARK on existing watch models and packaging, after which the license terminates. In 2023, NovaCore files for registration of QUARK for watches and is granted registration. Answer: (a) Who owns the QUARK mark in 2023 between Zenith and NovaCore, and why? (b) What is the effect of the failure to record the assignment with IPOPHL on NovaCore’s rights against third parties who might use QUARK for watches? (c) If NovaCore subsequently records the assignment with IPOPHL, what is the effect on ownership and enforceability against third parties?

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NovaCore owns the mark, but Zenith has a perpetual non-exclusive license to use QUARK in watches; the license survives post-sale regardless of the six-month term. NovaCore Holdings, Inc. owns the QUARK mark in 2023, because the express assignment transferred ownership by contract and such transfer is effective between the parties even without IPOPHL recording; registration later simply protects rights against third parties. The transfer is void because the contract contemplates asset sale rather than an assignment of the mark; Only a true assignment with IPOPHL recording can transfer ownership. The assignment would be void for lack of notarization; Without notarization, the transfer is invalid under Philippine law.

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