Dennis Paterson runs a business of manufacturing and selling bridalwear under the trademark name "Bridal Gowns". On 30 April 2022, Dennis enters into an agreement with another bridal clothing business, "Bridal Blossoms", giving them exclusive rights to use the "Bridal Gowns" name for 15 years. Under the agreement, "Bridal Blossoms" is required to pay Dennis royalties of 10% of the net sales of bridal clothing sold under the brand name "Bridal Gowns". In early May 2022, Dennis sells the right to these royalties to a third party for $700,000.