Why Taxapillar?

•    Trademark assignment is a form of intellectual property that grants the proprietor the authority to sell, license, or transfer their owned intellectual property, much like any other asset. This transfer can be accomplished through either an Assignment or licensing. 
•    The ownership of a registered brand undergoes some changes when a trademark is assigned. However, if it is licensed, the buyer retains the benefits of the trademark while only granting a few qualified rights to the third party. 
•    In India, a trademark assignment can be carried out with or without assigning the business goodwill. Whenever a registered trademark is assigned, it must be recorded in the Register of a trademark.

Advantages of Trademark Assignments

Unlocking Brand Value

By means of a legally binding trademark assignment deed, the proprietor of a brand can unlock the true value of their brand, which previously existed only on paper. The assignee, in turn, could derive substantial benefits by entering a market with a pre-established and familiar brand, as opposed to creating a new one from scratch.

Verification of documents

If there is any disagreement regarding the allocation, legal rights will be promptly established via legal action. The Registrar ensures that all necessary measures are taken by verifying the authenticity of all the terms in the trademark assignment document and announcing the assignment in the Trade Marks Journal.

Prerequisites for Trademark assignment

Allocation assignment requirements

·         Assets that require allocation include trademark registrations that are pending, as well as those that have been issued. Goodwill, associated marks, and registrations for both international and common law trademarks are also included. Additionally, names of both living and deceased individuals, as well as domain names, email accounts, and social media or website accounts, are part of the assets that require assignment.

 Execution assignment requirements

     Execution requirements include the need for signatories, a witness, notarization, legalization, and the inclusion of the execution date and place. Additionally, a power of attorney may be required in certain situations.How does the Assignment of Trademark in India take place?
•    The individual who is qualified by the assignment of a certified trademark, known as the assignee, must follow the designated procedure to apply for the assignment. 
•    To register the assignee as a subsequent proprietor, the assignor or assignee can submit an application for trademark assignment in Form ™-P. This application must be submitted to the registrar of assignment within six months from the date of procurement of the proprietorship. 
•    If the application is filed later, the fee may vary accordingly. If the assignment is without goodwill or a certified trademark, the registrar of trademarks must provide regulation within six months from the delivery date or within the extended long period provided by the registrar.
•    Ensure that the assignment on trademark is promoted in the precise manner and timeframe specified by the registrar.
•    To guarantee compliance, make certain to provide the office with a copy of the registrar's directions and the advertisement of the trademark assignment.
•    Once the registrar receives the application for the assignment of trademark and the necessary documents, the assignee will be registered as the proprietor of the trademark, with all relevant assignment details duly recorded in the register, upon the registrar's satisfaction.

How can a trademark be designated?
The act of transferring proprietary rights of a trademark from one businessman to another is known as trademark assignment. The process of making such an assignment can be carried out in the following manner:
•    A full trademark assignment involves the transfer of all ownership rights related to the trademark, including the authority to earn royalties, to a separate entity. This involves the owner of the trademark, such as "A" in the case of "XYZ", selling their entire association through an agreement to another party, such as B. Following this transaction, the owner no longer holds or retains any rights in relation to the trademark.
•    Partial logo assignment refers to a situation where the transfer of possession is limited to a specific product or service. This means that the owner can still maintain full control and rights over the logo and may earn royalties from its use. An example of this is when the owner of a tea and biscuit brand decides to transfer the proprietary rights of the tea brand only, while still retaining full control over the biscuit brand. This process is commonly known as partial logo assignment.

The document required for trademark registration, if applicable, along with the names and descriptions of the assignor and assignee, and a No Objection Certificate (NOC) issued by the original trademark owner must be provided.