Liquidmetal Technologies Inc (LQMT)

[PatentGuy1]

It will be nice to see the explicit legal language that cover "IF AND ONLY IF"

Per your request. Below is the restrictions that Apple has on using trademarks of LQMT.

Trademark Usage. In the event that Licensee desires to utilize the Liquidmetal® trademark, or any other trademark or service mark included in the LMT Technology (collectively, the "Trademark"), then Licensee will comply with the following restrictions with respect to its use of the Trademark: (i) all stylized use of the Trademark shall be solely in the original logotype identified by Licensor, except as otherwise agreed in writing by Licensor, (ii) Licensee agrees not to affix the Trademark to products other than the Licensed Products, (iii) Licensee will not utilize the Trademark to refer to any materials other than amorphous metal alloys or composite materials included within the LMT Technology, (iv) Licensee agrees not to modify Trademark or change the appearance of any stylized or logo form of the Trademark, and (v) the "®" icon shall always follow the Trademark, and (v) Licensee agrees not to take any other action that would be reasonably expected to undermine the enforceability of the Trademark.

See, MTA, Annex 6, section 2.5.
https://contracts.onecle.com/liquidmetal/apple-transaction-2010-08-05.shtml

The license explicitly limits Apple's use of the trademarks to amorphous metal alloys or composite materials included within the LMT Technology.

So, if the iWatch includes LQMT's BMG, Apple could use the "liquidmetal" trademark otherwise Apple cannot use the mark.