Where a trade mark licence agreement is granted to joint venturers trading under a collective name, the reference to that name describes the joint venture entities and their venture, not merely a trading name. If one venturer acquires all others' interests so that only one participant remains, the joint venture ends and a termination clause triggered by cessation of the business operation is engaged. The word 'permitted' in 'permitted assigns' limits assignments to entities approved by the licensor where the licensor has a commercial interest in controlling who uses the trade marks.
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