Deed Of Gift Of Goodwill Of Business, Trade Marks By A Father To Two Sons In Partnership Legal Draft Template

This Deed of gift is

made the ........... day of ..... 2000, between A Son of B resident of

......... (hereinafter called "the Donor") of the One Part and C son

of A and D son of A, resident of ......... (hereinafter called "the

donees") of the Other Part.Whereas the donor is

carrying on the business of ....... at ...... under the name and

style of M/s. .......... (hereinafter called "the Donor's

business") and in connection therewith is the registered proprietor of the

Trade Marks, the particulars of which are set out in the First Schedule

hereunder written.And Whereas the donor

is the inventor and patentee of the invention described in the Second Schedule

hereunder written in respect of which the donor has been granted patent for the

entire country by the office of Controller of Patents, New Delhi on ......

under No. ...... of ............And Whereas the

donees are carrying on the business of .......(hereinafter palled

"the partnership business") at ..... in partnership under the name

and style of M/s. ....................and Whereas at the

request of the donees, the donor has agreed to assign the goodwill of his

business and the said trade marks to the donees and grant to them the licence

hereinafter contained.Now This Deed

Witnesseth as Follows:1. In consideration

of his natural love and affection' for the donees, the donor hereby transfers,

assigns and conveys unto the donees all that the goodwill of the donor in his

business and the Trade Marks specified in the First Schedule hereunder written

and all rights and privileges incidental thereto to hold the same unto the donees

absolutely as joint tenants as the property of the partnership business.2. The donor, for the

aforesaid consideration, hereby grants to the donees the licence to make use,

exercise and the invention in all parts of the country during the remaining

period of said licenced patent and any renewal of the said licence for a

further term or terms, if the donee or their successors, heirs, administrators

or representatives shall so long continue to carry an the partnership business,

the donees shall be entitled to all the rights and privileges incidental to the

licence granted for the said patent including to take in the name of the donor

all necessary legal proceedings for effectually protecting or defending the

same from infringement.3. The estimated

value of the property is Rs ...IN WITNESS WHEREOF,

the parties have set their hands to this deed on the day and year first above

written.The First Schedule

referred to(Particulars of the

Trade Marks)The Second Schedule

referred to(Particulars of

patent).Signed and delivered

by the within named donor ASigned and delivered

by the within named donees C and DWITNESSES;1.2.