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Trademark Assignment is the transfer of the owner's right in the trademark to another person. Trademark owners can transfer trademarks in the same way they can transfer physical properties. One way to transfer a trademark is through the assignment. The assignment is the transfer of rights, interests, titles, and benefits from one person to another.
The transferring party is called the assignor and the receiving party is called the assignee. As per Section 2(1)(b) of the Trade Marks Act, 1999 states that the assignment of a trademark in writing form by an act of the parties concerned. Both unregistered and registered trademarks can be assigned with or without business goodwill.
Assignment of a trademark occurs when ownership of a mark is transferred from one party to another, whether with or without goodwill. In the case of a registered trademark, such an assignment must be registered in the Registry of Trademarks.
A mark may be assigned or transferred to another entity in any of the following ways;
The owner transfers all his rights in respect of a mark to another entity, including the transfer of rights such as the right to further transfer, to receive royalties, etc. (E.g. X, the owner of the brand, sells his mark outright by contract to Y. Thereafter X does not retain any rights in respect of the brand)
Transfer of ownership is limited to specific products or services only. (E.g. P, the owner of a brand used for jams and jellies and dairy products. P assigns to Q the rights in the brand in respect of dairy products only and retains the rights in the brand in respect of jams and jellies.) This is called a partial trademark assignment.
Such assignment is also known as a gross assignment, where the owner of the brand restricts the right of the buyer and does not allow the use of the such brand for products used by the original owner. Thus, the goodwill attached to such a brand is not transferred to the buyer in respect of the product already sold under such a brand. (E.g. P, owner of the brand "Shudh" relating to dairy products, sells his brand to Q on the understanding that Q will not be able to use the mark "Shudh" in respect of dairy products but may use the brand for any other products being manufactured by it. In such a case the goodwill associated with the brand "Shudh" for dairy products is not transferred to Q and Q needs to create a separate goodwill of the brand "Shudh" for any other product or service such as a restaurant in which Q proposes to use the brand). In many jurisdictions, such as the United States, assigning a mark without goodwill is not permitted at all. India on the other hand allows assignment without consent.
For the sample, you can get the trademark assignment pdf on the internet.
Section 37 of the Trade Marks Act, 1999 states that a person registered as the proprietor of a trademark in the Register of TradeMarks has the right to assign the trademark and to receive consideration for such assignment. Thus, the trademark owner can assign the trademark to another person.
The procedure for assigning a trademark in India is as follows;
The following documents are required to be submitted to the Registrar of Trademarks along with Form TM-P
To apply for a registered trademark, you will need to pay the applicable filing fee and send your application.
Based on the type of TM applied for according to the Stamp Duty Act, each TM application or assignment submitted is subject to a stamp. An application to register the title of a person entitled by assignment is made on Form TM-P.
Here, it may be useful to mention that as per the provisions mentioned under the Indian Stamp Act, stamp duty at 5% is payable based on the amount of consideration mentioned.
The terms assignment of trademark and transmission of a trademark are used interchangeably. An assignment is a handover of possession of a brand. In contrast, this agreement retains ownership of the trademark but allows another party to use part of the trademark, but not the entire stamp duty for the trademark assignment.
Some points about the assignment of a trademark are as follows:
1. The trademark assignment is when a trademark is transferred from one person to another, depending on whether it is registered or unregistered, ownership, and limitations may vary depending on the terms and conditions of the transfer.
2. Obtaining a trademark registration not only protects your brand from infringers but also allows you to realize the true value of your brand name. One of the benefits of obtaining a registration is the ability to assign a trademark. This allows you to permanently or temporarily assign your trademark to another person.
Transmission of a trademark is as follows,
It is a contract that transfers all rights including the right to transfer or sell the property, the right to receive royalties or royalties on the property, and other similar rights from one person to another.
This trademark transfer involves the transfer of specific service marks or product marks only.
A trademark assignment is the transfer of a trademark from one party to another based on the goodwill of the owner along with all rights and values.
A trademark transfer is when a company or trademark owner allows another to control the trademark, even if it is used for the same purpose.
If you want to grow your business seamlessly and at a low cost then assigning a trademark is one way. You can add support from another organization to help grow your business by licensing your brand name.
Assignment of trademark benefits both the assignor and the assignee and allows you to reach places that you would not be able to reach if you were running a solo business.
Plus, by partially outsourcing your trademark, you get the flexibility to work with more vendors and, as a result, expand your business into new markets.
Another benefit of trademark assignment is that it informs the owner of the brand name of its value. When you assign a trademark to someone, you can see the value of your brand from the perspective of the assignee. This widened horizon will help you make better decisions when determining the future of your trademark.
Moreover, if you understand the value of your brand, you will have more confidence when entering the market. It has an indirect effect on your mind, which you can use to further promote your business.
With a trademark assignment, you'll have another tool in your inventory to combat any opposition. Assigning your trademark to another person is a legal process that requires the use of legal documents. In the event of a trademark dispute, the legal rights will be easily demonstrated through a deed of assignment alone. The registrar ensures that all checks are in order by reviewing the validity of all provisions of the agreement and publishing the assignment in the Trademark Journal.
Not everyone with a trademark is a brilliant marketer. And, given the importance of how you communicate with your clients, you need to be adept at marketing to reach the largest possible audience.
Diversify your marketing strategy by outsourcing your brand name. The assignee will put his spin on things to gain access to the client base. Their approach will be different from yours and as a result, it will be more effective.
Starting a business in India requires serious consideration. To expand your firm, you should use different strategies. Some of them may not be common and the assignment of a trademark is one of them.
This process not only increases the value of your brand but also secures third-party help to help you build your business through marketing. The assignment brings you many benefits.
The documents are submitted for executing the assignment agreement with date and place of execution and signatures of party and witnesses.
|Basis||Trademark Assignment||Trademark Renewal|
|Definition||Trademark assignment means the transfer of rights, interests, titles and benefits from owner to another person.||Trademark Renewal is to renew the registration before the expiry by the applicant.|
|Procedure||An application in Form TM-24 with details of the transfer is submitted to the registrar. The registrar will specify the advertisement. An applicant must submit a copy of advertisement with all the required documents.||An application is filed in TM-12 and checks the status and advertisement of the trademark Journal.|
|Documents Required||The documents needed like the power of authority from the assignor to the assignee, trademark assignment agreement, no objection certificate executed by the assignor, goodwill certificate given by the assignor and acceptance of trademark rights provided by the assignee.||The documents like PAN card, address proof, power of attorney, certificate of registration and an application filed by the applicant for registration of a trademark with the trademark registry.|
|Types||There are four types of assignments; Complete assignment, Partial assignment, assignment with the goodwill of business and assignment without the goodwill of the business.||The renewal can be before expiry filed in Form TM-12 within the last six months of expiry and after expiry filed in Form TM-10 after ten years through online or offline mode.|
|Benefits||It provides benefits to the owner to increase in value of the brand, expand their businesses, etc.||It gives the benefits of protection from litigation, security of brand name, an extension of ownership rights, etc.|
|Fees||A trademark assignment is submitted with nine thousand rupees for e-filing and ten thousand for physical filing.||Trademark renewal is submitted with nine thousand rupees for e-filing and ten thousand for physical filing.|
In addition to registration or incorporation, a business may require other registrations depending on the business activity undertaken. Talk to an Advisor to find out registrations your business may require post registration.
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