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Trademark Assignment

Trademark assignment is a legal written document executed between the assignor and assignee. Trademark Assignment in India acts as the portion of the transfer of ownership of rights, title, and interest from one party to another, it can be recognized by word, phrase, and symbol or design or trademark related to the business.

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Overview
Checklist
Procedure
FAQ

Trademark Assignment - Overview

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

A trademark is a valuable asset or prized possession as it helps the end-users to link with the same qualities with a known brand quickly. This trademark agreement helps the owner to transfer the goodwill of the trademark properly to another party without facing any problems or hurdles.

Checklist of Trademark Assignment Agreement

A simple Trademark Assignment Agreement will key out the following basic checklist:

Trademark

That describes the legally distinguished word, phrase or symbol or design including the official trademark number if the trademark has been filed in the U.S. Patent and Trademark Office.

Effective Date

When the recognized trademark is formally transferred to the mark owner.

Consideration

Fee payment is paid for the mark

Assignor

the current owner who is owning the trademark

Assignee

the future owner who is giving money to get or to own the trademark

Warranties

the assignor assures that the Assignor is the true present owner and have the power to transfer the ownership and own the power or right to transfer the trademark

Signatures

that states that the assignor and the assignee must come to a contract or an agreement

Notary Public

The agreement or the contract must be notarized in case the assignee expects to register the trademark outside the country.

Types of Trademark Assignment Agreement
  • 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 hold the following details:

  • Name of the current owner of the trademark and the new owner.
  • What does the trademark consist of and any related trademark registration?
  • The place where all the disputes will be handled if there is any chaos stands up.
  • The reason for the Assignor to hold the right to transfer the trademark and related goodwill.
  • Time in which the registered trademark is transferred to the new official owner.
  • The amount paid to the assignor by the assignee to obtain the trademark.
Procedure to document the trademark assignment with the Registry

Assignment of the undocumented Trademark- As per Section 39, the unregistered trademark could also be transmitted or allowed with or without the goodwill of the business concern involved.

Assignment of the Registered Trademark – the trademark can partly or completely transmit or allot with or without the goodwill of the business concern to another company. The fee for the trademark assignment varies depending on the nature of the assignment.

The Need of Trademark Assignment Agreement in India

It is a legally written document that helps in transmitting the ownership of the trademark or service mark when required. A transfer of trademark or ownership comes into the action when a company or product is being sold to another organization or person.

Types of Trademark Assignment Agreement

Federally Registered

Usage of Registered trademark symbol (R) or ®
Officially registered with the USPTO
Raised rights because the public is on formal Notice

Common-Law Or Unregistered

Usage of the Trademark symbol ™ or (TM)
Uses the Service Mark symbol (SM)
Logos and Brand names are automatically protected when an entity uses the trademark in the normal course of commerce

Types of Trademark Assignment 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

Assignors Or Current Owner

Loss Of Time
Time spent demonstrating that the trademark was not transferred

Loss Of Money
Another business uses the same trademark  without paying or without formal transferring process

Loss Of Image
Business goodwill affected Customer Confusion of the Product or Service

Assignees Or Future Owner

Loss Of Time
The higher burden of documents as proof that the trademark was transferred

Loss Of Money
Unable to take advantage of the value of goodwill

Loss Of Image
Unable to federally register Obtain a cease and desist letter

Frequently Asked Questions

Trademark assignment issued when the right for the trademark in that capacity is transferred commencing with one gathering then onto the next whether with or without the generosity of the business.
An application for a trademark assignment can be done using Form TM-24. For the joint Trademark Assignment request, the assignor and assignee can use Form TM-2 to make a request
You can search in federally registered trademarks. And you can use a free trademark database on the USPTO's website to know if a brand or product or service is trademarked.
The national statues- the trademarks Act 1999 and rules made such as an International multilateral convention, regional treaty, national bilateral treaty, the decision of courts and so on.
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