Trademark Assignment

Overview of Trademark Assignment 

The assignment of a trademark is the formal documentation of the transfer of ownership of a recognized phrase, word, symbol, or design from one party to another. The Current Owner of that particular trademark is known as “the Assignor,” and the future owner is named “the Assignee.”

As a valuable asset or prized possession, a trademark helps end-users connect with a brand that has the same characteristics. It enables the trademark owner to transfer the goodwill of their trademark to another party without encountering any problems or obstacles.

Checklist of Trademark Assignment Agreement

These are the elements of the Trademark Assignment Agreement:-

• Trademark: – The word, logo, image, sounds or any such thing that is legally registered to represent the company and can be transferred or sold as an asset whenever required.

• Effective Date – The date when the trademark is transferred in the name of the owner 

• Consideration- Payment Amount for the trademark

• Assignor- the current owner of the trademark

• Assignee – the future owner of the trademark that is being sold

• Warranties- The Assignor proves that they presently own the trademark and have the right to transfer the ownership to anyone and anytime

• Signatures- This facilitates the agreement between the Assignor and the Assignee
• Notary Public- If the Assignee expects to register the trademark outside the country, then the agreement must be notarized

Types of Trademark Assignment Agreements

• Assignment and Transfer Agreement

• Assignment of Intellectual Property Rights Agreement

• Transfer of Trademark Rights

• Intellectual Property Assignment

• Trademark Purchase and Trademark Assignment Agreement

Inclusions in the Trademark Assignment Agreement

The Trademark Assignment Agreement should include the following details:-

• Names of both the current owner and the new owner of the trademark.

• The place to sort out a dispute

• The reason behind the Assignor transferring the ownership of the trademark

• Time at which the trademark will be transferred to the Assignee

• The amount paid to the Assignor for the trademark by the Assignee

The process to Document the Trademark Assignment 

Unregistered trademarks can also be transferred or assigned with or without the business concern’s goodwill, as permitted by Section 39.

A registered trademark may be assigned in part or in whole, including the goodwill of a business concern. Depending on the nature of the assignment, the trademark assignment fee varies.

The Need for Trademark Assignment Agreement in India

A trademark or service mark registration document is a legally binding document that conveys ownership of the mark when required. Transfers of trademarks or ownership are common in the sale of businesses or products.

Types of Trademark Assignment Agreement

The consequences of not using the Trademark Agreement

There will be a dusky vision on the business report who currently have the trademark without the Trademark Assignment. Therefore, the following are the results for not using the agreement

Frequently Asked Questions