Trademark Assignment In India 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 a different party without facing any problems or hurdles.
Types of Trademark Assignment Agreement
Inclusions in the Trademark Assignment Agreement
The Trademark Assignment Agreement should hold the subsequent details:
Procedure to document the trademark assignment with the Registry
Assignment of the undocumented Trademark- As per Section 39, the unregistered trademark could even be transmitted or allowed with or without the goodwill of the business 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 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 corporation or product is being sold to a different organization or person.