To transfer the ownership of a trademark from one party to another whether along with or without the goodwill of the business, it is required to get the Trademark Assignment done. The assignor b..
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A Trademark Assignment is a written Document that authorizes a registered proprietor of a trademark to assign the trademark and to give potent receipts for any consideration for such assignment. The assignor transfers a registered word, phrase, and symbol or design to another owner. Trademark Assignment takes place when there is a transfer of the owner’s power, title, and interest concerning the trademark.
In short, Assignment and Transmission of Trademark is a process in which ownership of the trademark is passed from one person to another with full or partial rights depending on the terms and conditions of the owner of the trademark. Registered and Unregistered Trademarks are assigned and transmitted from one person to another with or without the goodwill of the business concerned. A person can assign the trademark through a trademark assignment agreement.
There are various ways of assigning the trademark-
It means that the transfer of all rights together with rights to royalties, rights to further transfer, etc from one individual to the other.
It means that the transfer of ownership restricted or specified to certain products or services.
It means to transfer &amo; assignment of the trademark is done along with all the rights & values associated with the trademark from one person to the other.
It means that the transfer of trademark by the owner in such a manner it can be utilized for any other purpose except the original one.
Here, the Current Owner or transferring party is known as the “the Assignor”, and the future owner and the receiving party is known as the Assignee.
Note- An Unregistered trademark may be assigned with or without the goodwill of the respective business.
Designing and marketing the trademark can be very draining for the company’s fund. So, the business decides to assign the trademark and legalize the intellectual property.There are various benefits of Trademark assignment, which are mentioned below-
Monetize the value of your trademark and enjoy the fruits of the time & investments done for creating the brand.
The assignee is also benefitted as he/she would not have to work on brand building.
Trademark assignment helps in the maintenance of the intellectual property in terms of maintaining registrations of the same.
Brand creation, which requires a lot of investment, time, and also hard work. Thus, the Trademark assignment helps the author of the Trademark in getting the cash value of the Trademark.
Trademark assignment can act as valid proof in case of any dispute relating to the assignment of trademark arose. The legal rights of the registered trademark owner are well protected through such agreements.
The owner of a trademark enjoys the various benefit of dealing in an already existing trademark.
Trademark assignment helps in the expansion of the business in similar market of the industry.
Below mentioned Documents are required for Trademark assignment, which are as follows:-
Certain restrictions are required to be kept in mind while applying for Trademark Assignment, which are as follows:-
The very first step is to make an application for the Trademark assignment either by the assignee or the assignor or both of them.
The applicant shall specify all the details (original copy of duly certified Documents) of the transfer and be made under form TM-P.
Once the application is submitted, file the same with the Registrar of the trademark within 3 months of acquisition of proprietorship. It will specifically go for two important steps, which are:-
When there is a trademark assignment with goodwill, the direction from the Registrar of a trademark is mandatory before the expiry of 3 months. However, it can be extended.
The applicant has to make the advertisement as specified by the registrar. Moreover, the copy of the advertisement along with a copy of the Registrar’s direction should also be submitted.
Once the Registrar is satisfied with all the requisite paper works, he shall officially transfer the trademark from the assignor to the assignee.
Note- The name of the Assignee is to be registered as a new proprietor in the register.The assignee can then use the trademark as per the terms of the Trademark assignment agreement.
If an individual for any reason falsely represents an unregistered trademark as registered related to any products or services; then the person by law is punishable with imprisonment for a term which may extend to 3 years or with fine, or both.
Section 39 stipulates that an unregistered trademark could also be assigned with or without the goodwill of the business involved.
The registered trademark can fully or partly assign with or without the goodwill of the business to another entity.
Without the Trademark Assignment, there will be a dusky vision on the record who currently owns the mark. Hence, the following are the consequences of not using the agreement-
Losses | Assignors | Assignees |
Loss of Time | Trademark cannot be transferred successfully. | Burden of proof lies on the Assignees to establish the fact that trademark was transferred. |
Loss of Money | Any other business can use your mark without paying you | Unable to capitalize on the value of goodwill |
Loss of Image | Business goodwill gets affected along with creating confusion in the eye of customers regarding the product | Unable to Legally register as well as receive a royalty |
The Trademark Assignment Agreement should cover the requisite information, which is as follows:-
Kindly utilize the steps given above to integrate legally and securely a Trademark Assignment and get the benefits in the form of better-quality sale leads and satisfied clients. Our Canjain experts will be at your disposal for assisting you with guidance concerning Trademark Assignment and its compliance for the smooth functioning of your business in India. Canjain professionals will assist you in planning seamlessly at the least cost, confirming the successful conclusion of the process.
It is advisable that an attorney with IPR experience must be appointed to overwhelm many of the potential pitfalls that creep around within Trademark Assignment and to understand the requirement in detail. The elementary information would be mandatory from your end to start the process. The Attorney will begin working on your request once all the information is provided, and the payment is received.
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