Trademark Assignment

Trademark Assignment is the process of Assigning or Transferring the rights of Trademark to the other Person. . Easily Assign your registered Trademark to the ultimate beneficiaryusingStartupfino services.

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Overview of Trademark Assignment

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.

Benefits

Trademark registration offers several benefits for a particular good or service.

  • Unlock Value
    • 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.
  • Valid Proof
    • 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.
  • Expansion of Business
    • The brand value will grow with the cumulative efforts of assignor and assignee after completing the process of Assignment.

When to Assign the Trademark

  • 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.

Types of Assignment

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:

  • Complete assignment to another entity: The owner can transfer all its rights with respect to mark to another entity this includes a transfer of right such as a right to further transfer to earn royalties.
  • Assignment to another individual but only with respect to some of the goods/services: In this kind of transfer the ownership is restricted to specific products or services. This kind of transfer is known as a partial assignment.
  • Assignment with goodwill: These kinds of an assignment are such in which the rights and the value of a trademark that is associated with the product are also transferred to another entity.
  • An assignment without the goodwill: Such kind of assignment is also known as the gross assignment, in these kinds of assignment owner of the brand restrict the rights of the buyer and doesn’t allow him to use such brand for products that are being used by the original owner.

Agreement for Assignment

While drafting such agreement following points should be kept in mind:

  • It should contain the rights of the owner which prevents his rights from the being misused.
  • The Agreement should state that Whether the assignment is with or without the goodwill of the business.
  • The agreement should clearly mention the purpose of the transaction.
  • It is also important while drafting a license agreement to pre-determine and define the rights and duties of the licensee. It is important to not only protect the rights of the licensor in its own brand but also to secure the licensee with his rights to use such a brand.

FAQs

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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