Yes, an Indian company can transfer the trademark to foreign company. It is done through trademark assignment. Assignment of trademarks means when the proprietor of trademark sells the trademark to any other person. One can sell the trademark with goodwill or without goodwill. The procedure of assignment is as under.
Assignment Deed:
The very first step is to draft and execute assignment deed. The deed must include the name of assignor and assignee, date of assignment, trademark details, mode of payment, whether assignment is with goodwill or without goodwill, how to settle dispute if any and any other clause which must be there as per case.
Application:
The assignment application should be filed online in prescribed form with fees. The documents must be attached with the application are Power of Attorney, Assignment deed, No objection certificate. If there will be any query raised by Ministry then it is to be replied. After which the Ministry will issue notice of 30 days to the owner in which if owner has any objection then he/she can raise an objection. After the expiry of 30 days Ministry will approve the assignment.
Change reflected by Ministry:
Once Ministry will approve the assignment application, Ministry will change the details and will reflect it in the data base. The public data available on Trademark portal will get updated and name of new proprietor will be shown.
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