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Trademark ownership may be transferred to another person by assignment, merger, or assignment. The process of changing ownership of the registered trademark is known as trademark assignment. Trademark owners have the right to sell, license, and transfer property in the same manner as physical property. If a trademark is assigned by assignment, that person must apply for registration in the Trademark Registry for a reasonable fee.
There are some differences in ownership of a registered trademark once the trademark is assigned. However, once licensed, the interest in the trademark remains with the purchaser, but qualifying rights are rarely transferred to third parties.
Valuation of Your Brand
Your brand is valued at the time of Trademark Assignment. In another word your brand value can be encashed through the process of Trademark Assignment. It also benefits the assignee because he doesn’t have to start a new brand because now he has a well-known brand.
Protection in dispute (Acts as a Security)
If in any case dispute relating to trademark assignment or ownership arises then the agreement of Trademark Assignment act as a valid proof of Assignment or Ownership.
Expansion of Business
It also helps in expansion because in the case of Assignor, he/she can expand business by inviting more vendor for Brand-Building and in the case of Assignee, he/she will associate brand with his/her business And the combined effort of both parties result in Brand-Building or Expansion of business.
Time- Efficient
If we take two stances Trademark Registration and Trademark Assignment then the process of Assignment is more Time –Efficient. So Assignment saves time.
Complete Assignment
In Complete Assignment, the owner transfer all the rights related to trademark such as rights to further transfer, royalties, etc.,
Partial Assignment –
In a partial assignment, the transfer of possession is limited to specific product or service only. And the trademark owner has the right to transfer the trademark further and earn its royalties.
Assignment with Goodwill-
Here The Owner transfers the trademark and trademark value associated with the product.
Trademark Assignment without Goodwill
The owner of the mark limits the transferee's rights and does not permit the transferee to use the trademark in connection with goods already sold, so that the goodwill associated with the mark is not transferred to the buyer.
• Trademark assignment agreement
• Identified document of assignor and assignee
• Power of attorney
• NOC from the original owner of the registered trademark
• Trademark Registration Certificate (If available)
The fees for trademark assignment in India vary depending on the number of classes of goods or services for which the trademark is registered. It's important to consult with a legal advisor or the ITMR for the most up-to-date fee information.
If a trademark assignment is not registered with the ITMR, the assignment will not be valid and the assignee will not have the exclusive right to use the trademark.
Yes, a trademark can be assigned without transferring the business. The trademark and the business can be owned by different parties.
Yes, a trademark can be assigned to a foreign entity in India, but the assignee must appoint an agent resident in India to accept service of process and act as a local representative.
The tax implications of trademark assignment in India depend on the nature of the transaction and the parties involved. It's important to consult with a tax professional to understand the specific tax implications of the assignment.