50 USC 4340 - Divestment of trademarks

U.S Code last checked for updates: Nov 22, 2024

§ 4340.

Divestment of trademarks

(a)

“Trademarks” defined

(b)

Effective date of divestment; rights of licensees; transfer of interests; payment of royalties to Attorney General

(c)

Prevesting contracts; exceptions; payment of royalties to Attorney General

All rights or interests vested in the Alien Property Custodian or the Attorney General under the provisions of this chapter subsequent to December 17, 1941, arising out of prevesting contracts entered into with respect to trademarks, except—

(1)

royalties or other income received by or accrued in favor of the Alien Property Custodian or the Attorney General under such contracts;

(2)

rights or interests which have been returned or otherwise disposed of under this chapter;

(3)

rights or interests vested by vesting orders 284, as amended (7 Fed. Reg. 9754; 9 Fed. Reg. 1038), 2354 (8 Fed. Reg. 14635), 5592 (11 Fed. Reg. 1675), and 18805 (17 Fed. Reg. 4364),

are hereby divested as a matter of grace, effective the ninety-first day after October 23, 1962, and the persons entitled to such rights or interests shall succeed thereto, subject to the right of the Attorney General to collect and receive all unpaid royalties or other income accrued in his favor under such prevesting contracts prior to the day of divestment.

(d)

Publication of ownership list in Federal Register; effective date of divestment; succession to ownership of equivalent trademarks

(Oct. 6, 1917, ch. 106, § 42, as added Pub. L. 87–861, § 2, Oct. 23, 1962, 76 Stat. 1139.)

cite as: 50 USC 4340