Farm Stores Terminates Licensing Deal
Farm Stores Grocery Inc., operator of 109 convenience stores throughout Florida, yesterday terminated its licensing agreement with United Petroleum Corp. and United Petroleum Group Inc.
The licensing agreement between Farm Stores and United Petroleum was entered into in October of 1999 when Farm Stores spun-off its traditional convenience stores in order to concentrate on its patented double-drive through grocery format. Under the agreement, United Petroleum was to operate the traditional units the Farm Stores brand.
Farm Stores said it terminated the agreement after the two sides failed to agree on the terms of the deal. As a result, United Petroleum is prohibited from using the Farm Stores brand name, goodwill or other intellectual property in connection with its convenience store business.
The licensing agreement between Farm Stores and United Petroleum was entered into in October of 1999 when Farm Stores spun-off its traditional convenience stores in order to concentrate on its patented double-drive through grocery format. Under the agreement, United Petroleum was to operate the traditional units the Farm Stores brand.
Farm Stores said it terminated the agreement after the two sides failed to agree on the terms of the deal. As a result, United Petroleum is prohibited from using the Farm Stores brand name, goodwill or other intellectual property in connection with its convenience store business.