Trademark Registration is the intellectual property which gives its owner the right to sell, transfer and license its ownership. The first step of assignment is to prepare a Trademark Assignment agreement and then to file the application with the Trademark authorities. After assignment of Trademark, there is change in the ownership of registered brand. Trademark Assignment is also generally requires when the Trademark application is initially filed by the founders and then later on the intellectual property requires to be transferred to Startup.
Trademark registration offers several benefits for a particular good or service.
With the help of the Assignment agreement, the owner of the brand is able to unlock the value of the brand which was at this point only had value on papers. The assignee on another hand could be significantly better off entering a market with an already well-known brand, rather than building a new one entirely.
In case of any dispute which is related to the trademark, legal rights would easily be established only through the Deed of Assignment and its proper filings. The Registrar ensures that all the checks are in place by examining the validity of all the clauses which are mentioned in the agreement and publishing the assignment in the Trade Marks Journal.
The brand value will grow with the cumulative efforts of assignor and assignee after completing the process of Assignment.
An excess of intellectual property can burden a company, directing funds toward maintaining registrations, defending against third-party claims, and creating and marketing the final product; ultimately, it can prove to be an unprofitable drain on resources. The assignment may be a relatively isolated transaction, or it may occur as part of a much larger disposal of tangible and intangible assets, such as the sale of the assets of a business.
Assignment means to transfer the ownership from the owner to another party and in case of Registered Trademark it is required to be registered in the Registrar of the Trademark.
Assignment can be done in the following ways:
While drafting such agreement following points should be kept in mind:
It is not necessary but it is preferred to be notarized and printed on an appropriate amount of stamp paper.
Assignment Agreement has to be filed with the trademark officials by filing an application on the portal.
Digital Signatures are required for Registering the Trademark and not for filing the examination and assignment agreement.
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