Get Trademark Assignment Agreement procedure online in India

What is Trademark Assignment Procedure in India?

Trademark Assignment Procedure means the process of transferring the ownership of the Trademark Registration with or without the goodwill of the business.

As trademarks are also a kind of asset for the business, trademark assignment also means transferring of this asset. Businesses can liquidate the brand-value through Trademark Assignment process in India. Trademark assignment procedure in India is also defined as the transfer of ownership of a trademark or service mark by the owner to another party.

In a nutshell, an Assignment and Transmission of Trademark occurs when the rights to use a trademark are transferred from one party to another, either whole or in part, according to the terms and circumstances set out by the trademark owner.

Trademarks, both registered and unregistered, can be transferred from one owner to another, and the goodwill of the associated company need not be transferred along with the trademark. Through the use of an assignment agreement, a trademark can be transferred from one party to another.

Types of Trademark Assignment Procedure in India

Partial assignment
The Trademark Assignment Agreement specifies which goods and services are included in the assignment. Therefore, Partial Assignment of Trademark means the assignor transfers only limited ownership for certain goods or services.

Complete assignment
Complete Trademark Assignment procedure in India means the third party is granted complete ownership of the trademark, including all future transfer, royalty, licensing, and other rights.

Trademark assignment with Goodwill
When a trademark is assigned with the Goodwill, the assignor gives the new owner all the benefits and protections of using that mark. All of the goodwill and legal protections associated with the trademark are being transferred along with it. Assigning a trademark with Goodwill gives the new owner the legal right to use the trademark in connection with any goods or services previously sold under the trademark. In addition, the new owner has the right to use the trademark in connection with any future businesses they launch or products they produce.

Trademark assignment without Goodwill/ Gross assignment
Trademark Assignment Procedure in India without Goodwill is also known as Gross Assignment. Here, the trademark holder places limitations on the rights of the assignee, such as preventing the new assignee from using the trademark on the same items or services that bear the assignor's name. So, the buyer doesn't get any of the goodwill that comes with the brand for the product that is already being sold under that brand or Trademark.

Pre-requisites of Trademark Assignment Procedure in India

#1. Trademark must be registered before Assignment.

#2. An assignor (owner of the trademark) must give intention and consent to the assignee (buyer) for the Trademark Assignment process .

#3. Trademarks can only be transferred for fair and reasonable compensation.

#4. All documents must be legally prepared and submitted for the application process.

Benefits of Trademark Assignment

Helps the business to get the Trademarks Value
Trademark assignment in India allows the brand's owner(s) to reap the financial benefits of a trademark that were previously purely theoretical. More value is produced as a result of the collaboration, and the assignor retains the ability to place reasonable constraints on the assignment at any time.

Keeps Trademark Registry Updated
Keeping trademark registrations up-to-date is an important part of protecting intellectual property, and trademark assignment makes this process easier. Assigning a trademark can ease the burden of keeping track of registrations for the mark.

Promotes Business Expansion
The assignor's revenue grows as additional sellers sign on to help expand the brand through licensing. Assignor and Assignee will work together to increase the brand's value.

What are the restrictions on Trademark Assignment Procedure?

No two or more people in separate locations may utilise the same set of allocated trademarks at the same time. Furthermore, Creating several exclusive rights to the same products or services through a Trademark assignment procedure is not allowed.

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E-StartupIndia is a team of experts including CA, Lawyers, CS, business advisors. The team at E-StartupIndia aim is to facilitate business with the legal and beneficial services that they need during the lifecycle of the business. As a result, we render quality services whether it is applying for Trademark Assignment Procedure in India or several other services including GST Registration, Patent Registration, MSME Registration, Business Loan application etc. Our team members have more than decades of experience in the various industries. So, feel free to consult us at: 8881-069-069 or write to us at: info@e-startupindia.com. We assure you the right advice, on-time & accurate delivery, professional assistance in document preparation and much more at nominal costs.