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Trademark Assignment
Trademark is an intellectual property and like any other asset, the owner of a trademark has the right to sell, license or transfer the owned intellectual property. Such a transfer can be made through Trademark Assignment Agreement or through Licensing.
When a trademark is assigned, there is a change in the ownership of the registered brand. But when it’s licensed, the rights in the trademark continue to vest with the original owner but only a few restricted rights are given to the third party. This assignment can be made with or without transferring the business goodwill. In case of a registered Trademark, such assignment is required to be recorded in the Register of trademarks.
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- Expert Team of Qualified CA, CS, and Lawyers
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Process to Assign a Trademark
Day 1 - 2
- Discussion and collection of basic Information
- Provide required documents
- Finalize the terms and conditions
- Finalize the type of agreement
Day 3 - 5
- Drafting of Documents by Professionals
- Drafting of Trademark Assignment Agreement
Day 6 - 7
- Filing of online TM-P application
Documents Required for Trademark Assignment in India
01
TM Certificate
Certificate of Trademark Registration (if any)
02
Details of the Party
Name and description of the assignor and assignee
03
NOC
No Objection Certificate from the original owner of the registered trademark
Benefits of Assignment of Trademark in India
Pre-established brand name
The assignee has the advantage of dealing in an already existing and established a brand name. The time, efforts and investment for creating brand value are saved for the assignee.
Expansion of business
In the case of licensing, the assignor’s business increases as more vendors join to contribute in brand building. The brand value will propel with the combined efforts of assignor and assignee.
Get your trademark's value
Brand creation involves a lot of money, time and hard work. With the assignment of Trademark in India, the trademark owner(s) can encash the value of a brand which until now existed only on papers. The combined efforts create more value and the assignor can always put appropriate restrictions.
Assignment Agreement is Valid Proof
In case of any trademark-related dispute, the legal rights of the assignee would easily be established through the trademark assignment agreement. The Registry ensures that all the checks are in place by examining the validity of all the clauses mentioned in the agreement and publishing the assignment in the Trade Marks Journal.
Restrictions on the Assignment of a Registered Trademark
Assignments that create exclusive rights for more than one person with respect to the same goods or services are not permitted.
Simultaneous use of assigned marks by different individuals in different parts of the country is not permitted.
Types of trademark assignment in India
Complete Assignment
All the rights vested in the trademark are assigned to the third party, including the rights to further transfer, to earn royalties, to license, etc.
Limited Assignment
In this assignment, the transfer of ownership is restricted only to certain products/services as decided in the Trademark Assignment Agreement.
Assignment with Goodwill
In this case, the value and the rights attached to the trademark are also transferred. This makes new owner of the trademark eligible to use the assigned brand name with respect to the products and services already sold under the brand name. Also, it grants permission to use the acquired trademark for any new venture or product the new owner creates or manufactures.
Assignment without Goodwill
Also known as Gross Assignment, here the brand owner restricts the rights of the assignee, limiting user rights of the new assignee and prohibiting him/her from using the brand name for the products already in use by the assignor. Thus, the goodwill attached to such brand with respect to the product already being sold under such brand is not transferred to the buyer.