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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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122589
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12258900.005
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1990-09-22
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BUSINESS, Page 69Business NotesMARKETINGSeat of Higher (L)earning
Harvard University, whose business school has long been a
training ground for some of the nation's top corporate minds, has
decided that it will no longer give away its profitable name
gratis. By January 1991, companies that produce everything from
sweat shirts to chairs to coffee mugs emblazoned with the name
Harvard, the university coat of arms or the motto VERITAS (truth)
will have to pay for the privilege. Despite an endowment of some
$4.5 billion, the oldest U.S. university can always find uses for
an extra $500,000 a year, the amount that the trademark license
could eventually produce.
Harvard tested its product appeal during its 350th anniversary
in 1986, and has looked closely at trademark possibilities in
Japan. The take from anniversary merchandise was about $50,000, and
for the past three years items led by a Harvard University line of
menswear have generated $130,000 annually in royalties in Japan.
Harvard would like to license a maximum of 100 U.S. companies to
produce merchandise.