All You Need to Know About Starting a Company
What is Trademark Assignment?
Assignment agreements are used to transfer the trademark rights. After assigning the trademark rights to another party, its ownership will be given to the other party either completely (with goodwill) or for a limited number of products or services (without goodwill). It generally requires a one-time payment. Trademark assignment can also be done for unregistered trademarks. In spite of registered or unregistered trademark, the assignee has to apply to the Registrar within six months.
Advantages of a Trademark Assignment
Unlock Value
The owner of the brand can unlock the value of the brand by the trademark assignment. Whereas the assignee would get a better chance of entering a market with a well-known brand so he does not have to build a new brand name from scratch.
Valid Proof
If you have any implications related to trademark, legal rights will easily be established through the deed. The Registrar will validate all the clauses in the agreement and publish the assignment in the Trade Marks Journal.
Trademark Assignment Process
- A lawyer will contact you to understand your requirements in detail and recommend the clauses to be included. We will also explain the documents you would need to provide for the entire procedure. The deed will be drafted and sent to both parties for their signatures.
- We will then get the deed attested and file the necessary forms (TM-16, TM-23 or TM-24). The assignee has to make sure that the Registrar will examine and then publish the assignment in the Trade Marks Journal within 6 months otherwise the application will be considered null. You will receive a receipt stating the same at the end of this process.
- The Registrar will verify the agreement to check that it should not create a state of confusion because both parties will be using the trademark in different industries. Our lawyers will keep you posted about all the details.
- If the Registrar approves, the assignment will be published in the Trade Marks Journal. Now, the Registrar will examine the response to the publication and allow or disallow the assignment entry in the Trademark Registry based on his deductions.
