Owner of the trademark has the right to sell, licence and transfer his or her trademark. The process of transferring a Trademark is possible only via a Trademark assignment agreement or Trademark licence. In this blog, we will discuss the term “Trademark assignment” and the various advantages of it. We will also discuss the types of Trademark assignment and the requirements and process for trademark assignment.
The definition of the word Trademark assignment has been given under section 37 of The trademark act passed in 1999. According to the definition, a Trademark assignment refers to the transferring of the rights and interests of the owner and the title in a Trademark and the brand mark.
We can simply say that, the process through which the ownership and the rights of a trademark are transferred to any other individual is known as a Trademark assignment.
Trademark assignments have been classified into four categories and are discussed afterward:
Partial assignment
Under a partial assignment, only limited ownership of specific products or services is transferred by the assignor.
Complete assignment
In a complete assignment, the assignor transfers all the rights related to the registered trademark to the assignee.
An assignment with goodwill
Under an assignment with a goodwill, the assignor will transfer both the rights and the value of The trademark to the assignee.
Gross assignment a.k.a. an assignment without goodwill
Under a gross assignment, the assignor will restrict the rights of the buyer while transferring the trademark. Under this, the assignor does not transfer the goodwill which is attached with the brand to the assignee and restricts the buyer from utilising a brand of the product which the assignor already uses.
The requirements for a Trademark assignment are listed below:
The registrar will approve the application once he is satisfied and will register the assignee's name as the owner of The trademark.
In this blog, we discussed Trademark assignments and the various types of Trademark assignments. We also discussed the requirements and process for a Trademark assignment.
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