Trademark Assignment
Simple Assignment Process
To transfer ownership rights of a trademark, an assignment agreement must be signed
What is 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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Documents Required for Trademark Assignment
- TM Certificate
- Details of the Party
- NOC
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Advantages of Filing Trademark Assignment
Trademark 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.
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.
Pre-established brand
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
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.
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