Trademark Assignment
what does Trademark Assignment mean?
Trademarks are considered to be as property/assets of its owner. Therefore, like any other property, it can also be transferred to another person by its owner. [Section 37 of the Trade Marks Act, 1999 and Chapter V (Rule 75 to 85) of Trademark Rules 2017] Assignment takes place by coming in Trademark Assignment Agreement in writing. The transferring party is called the assignor, and the receiving party is called the assignee.
Enroll Your Startup Technologies
Types of Trademark Assignment
There can be four types of Trademark assignment-
Partial Assignment
Complete Assignment
An assignment with Goodwill
An assignment without Goodwill
Key Aspects of a Trademark Assignment
Formal Transfer of Ownership:
Unlike a trademark license, which only grants permission to use a mark, an assignment completely conveys ownership of the trademark.
Written Agreement:
The assignment must be documented in a written trademark assignment agreement.
Consideration:
The transfer of ownership must be for proper and adequate "consideration," which is a form of payment or compensation for the rights being transferred.
Goodwill:
The assignment can include the goodwill of the business associated with the trademark or can be done without it.
Registered and Unregistered Trademarks:
Both registered and unregistered trademarks can be assigned.
Formal Recording:
The assignment must be recorded with the national trademark registry by filing the appropriate forms (e.g., Form TM-P in India) and providing supporting documentation.