The power to
sell, grant a license for, and transfer intellectual property is one of the
rights that come with owning a trademark, which has the same legal status as
other forms of property. The trademark licensing and assignment issues are
covered by the Trademark Act of 1999. The owner of a trademark may sell, license,
transfer, or otherwise transfer the trademark. The Trademark Assignment Process is used to transfer ownership of a
trademark from one party to another. A trademark may be licensed to the
recipient or assigned to a third party by its owner. The trademark is
transferred to the assignee, who then becomes its owner. The procedure for Trademark Assignment is explained in
the current article, along with the essential procedures that must be taken.
What is Trademark Assignment in India?
In terms of
retaining trademark registrations, Trademark Assignment aids in the maintenance of intellectual property. A trademark transfers
or allocation is the legal transfer of ownership of a trademark from the
principal owner, often known as the assignor, to the beneficiary, frequently
referred to as the assignee. The assignor has the same rights as any other
owner of property or assets to sell, license, or transfer the trademark. If the
trademark is registered, the assignment must be entered into the trademark
register. If the trademark is registered, the assignment must be entered into
the trademark register. When a trademark is assigned, ownership of the
registered brand changes. But when a trademark is licensed, the original owner
still retains ownership of it, and only a few limited rights are granted to the
third party. Additionally, the business goodwill may or may not be assigned as
part of this licensing agreement.
Types of Trademark Assignment in India
Ø Complete Assignment refers to the transfer
of the assignor's entire registered trademark rights to the assignee.
Ø Specific or partial assignments occur
when the assignor merely transfers a portion of the ownership of particular
commodities and services.
Ø The rights to the trademark as well as
its value, or goodwill, are transferred to the assignee in an "assignment
with Goodwill" by the assignor of the trademark.
Ø Assignment of trademark without
goodwill, also known as a gross agreement, occurs when only the rights are
transferred and the assignor keeps the goodwill. Goodwill connected with the
brand is not transferred to the assignee.
Procedure for Trademark Assignment in India
Step 1:
Submit an application for a trade mark assignment:This application may be submitted by
either the assignor or the assignee, or by both. The registrar must promote the
application. They must work with a professional to create an agreement
describing their terms and conditions.
Step 2:
Filling out the TM-P form: If you want to register the trademark assignment, please submit the
application form along with all necessary documentation and payment. An
application using the TM-P form and additional papers must be submitted to the
registrar within six months of the date the agreement was formed.
Step 3:
Documents submission: If you want more information about
the paperwork procedure, get in touch with our LegalRaasta experts. You must then submit all necessary
documents within 6 months of the date of acquisition. The Trademark Assignment Agreement, trademark certificate, NOC from the
assignor, a copy of the assignor's and assignee's identification documents, and
an affidavit are all required documents for the process in India.
Step 4:
Application processing and advertisement: After the application has been processed, the applicant
must publicize the assignment in the way specified by the registrar and provide
a copy of the advertisement to the registrar's office as well.
Step 5:Application
review: A copy of
the instruction and assignment announcement must be given to the Trademark
Registry office, which reviews all of your applications and determines whether
any changes need to be made in this file or not, in order to determine whether
the registrar's instructions have been followed correctly or not.
Step 6:
Approval: After
verifying the application, the registrar will register the assignee as the
trademark's owner. The assignment will be examined before being recorded into
the register by the registrar.
What are the Benefits of Trademark Assignment in India?
Ø You can profit from the value of your
trademark while also reaping the rewards of your investments in its
development.
Ø The assignee would not need to focus
on developing their brand.
Ø Creating a brand, which takes a lot
of money, effort, and time. As a result, the trademark assignment aids the
trademark's creator in determining the trademark's financial worth.
Ø These agreements, which serve as
valid proof, effectively protect the registered trademark owner's legal rights.
If there is a disagreement over the assignment of a trademark.
Ø The many advantages of using an
existing trademark that the owner enjoys also contribute to the growth of their
company in the market and industry.
How does Legalraasta help to make trademark transfers easier?
Ø Trademark assignment procedures are
time-consuming, necessitate substantial documentation, and are incredibly
lucrative.
Ø Our team of professionals is
knowledgeable with the subtleties and formalities related to the trademark
registry.
Ø Our experts will make sure that the
trademark assignment agreement is perfectly drafted and executed, and we won't
stop until your upside is maximized.
Ø If you have any questions about
trademarks, don't hesitate to contact Legalraasta representatives for
knowledgeable direction and support.
Conclusion
A trademark
transfer or allocation is the legal transfer of trademark ownership from the
primary owner, also known as the assignor, to the beneficiary, also known as
the assignee. The Trademark Assignment
process in India is time-consuming, needs extensive documentation, and
follows a specified approach. As a result, we firmly advise you to entrust your
trademark assignments to the LegalRaasta legal adviser’s team, who are among
the most reputable trademark experts in India, for assistance with the Trademark Assignment Process.
Comments
Post a Comment