Trademarks are an example of intellectual property that is valuable for all types of businesses, as we are all aware.
Like any other physical asset, it is valued as well. Applying online is required to transfer trademark ownership.
Online trademark registration and modification are two examples of things that are related to trademarks.
You can discover the entire procedure for changing a trademark's ownership on this page.
Additionally, some trademarks are worth more than certain tangible properties. As a result, after registering a trademark in India, you have the right to sell, transfer, or lease it.
What does it mean to transfer trademark ownership?
The trademark transfer of ownership is transferred from one party to another. Because of a licence, the transfers may be temporary, but because of the assignment, they may be permanent.
A trademark assignment, also known as a trademark transfer of ownership registration, is the procedure of transferring trademark registration and ownership to a different individual.
They can only transfer their trademarks to one another when all parties have ratified a Trademark Assignment Agreement. The importance of trademark registration is a major factor in India.
A trademark licence is also the short-term transfer of a trademark.
Assignment of a trademark or trademark transfer of ownership can also be referred to as the provision of intellectual rights from a businessman's asset.
You can transfer ownership of a trademark via an online procedure, much like when registering a trademark online.
Complete the trademark ownership transfer process
- An assignment request for a trademark must be made by the assignee, assignor, or both. Use a Trademark Assignment Application to do this.
- File the TM-P form and fill up all the required information, including:
- Information on the Registered Owner
- Agent's registered trademark information
- Class of Mark
- Reason for Amendment Request a request for the Proprietor's information
- Identification information for the applicant
- The appropriate documentation must then be submitted to the Trademark Registration Registrar as the following step. You must do this within six months of the day you acquired ownership.
- The applicant must now publish their application after it has been processed and send a copy of the advertisement to the registrar's office.
- After completing the processes and submitting the necessary paperwork, the Registrar will review the application and, if satisfied, will approve it.
So, it is clear that the process is difficult and drawn out. Your time, effort, and money could be wasted on a simple error.
You can spare yourself the headache of doing things, not understanding the kind of trademark class, etc.
To thoroughly understand the procedure for trademark transfer of ownership, you should also be aware of the many types of trademark assignments.
Assignment of Trademarks: Types
In general, there are four different kinds of trademark assignments. In other words, there are four ways to transfer ownership of a trademark. Which are:
Complete the assignment of a trademark or transfer
The third party receives the full range of trademark rights, including the ability to make more transfers, collect royalties, sell, and more.
In other words, after the trademark has been transferred to the other party under this arrangement, the property's original owner no longer has any legal claim to the trademark.
Transfer of Trademark Registration Is Limited to Certain Goods and Services
In this case, the transfer of the trademark rights is restricted to a select few goods and services.
In other words, you have the option to keep some rights and limit the transfer to specific products and services.
Assignment of Trademarks, Including Goodwill
As the owner of the trademark registration, you send the trademark rights and any associated goodwill.
As a result, the before-provided goods and services can now be marketed under the specified brand name by the new trademark owner.
Additionally, it permits the brand-new owner to use the mark for any new business venture and the goods that it produces or offers.
Assignment of Trademarks without Goodwill
Another name for "Trademark assignment without goodwill" is "gross assignment."
In this case, the trademark owner limits the other owner's capacity to register a trademark for goods or services that they currently offer.
As a result, the client currently does not receive any goodwill connected to a registered trademark in India on a good or service.
Benefits of Transfer of a Trademark
- The trademark owner can cash in on their brand's value thanks to their trademark's assignment.
- Due to trademark assignment, the assignee acquires the rights of an existing brand.
- Both the assignor and the assignee are helped by the trademark assignment to grow their respective businesses.
- The trademark transfer agreement allows the assignor and assignee to clarify their legal rights in the event of a disagreement.
Trademark transfer fees in India
The trademark transfer fees in India are mentioned below. You can also check out the trademark transfer fees in India online.
- The statutory cost for a trademark assignment made within six months of the date of acquiring ownership is Rs 5,000.
- The statutory charge for trademark assignments made after the lapse of six months but before twelve months following the date of acquisition of proprietorship is Rs 7,500.
- The statutory charge in cases where the trademark assignment is made more than a year after the date of acquiring ownership is Rs 10,000.
As a subset of Technology Transfer Agreements, which refers to any assignment agreements relating to Intellectual Properties, Trademark Assignment Agreements stimulate innovation and allow for the exploitation of such future developments.
The assignee tries to trample on the owner's rights by asking for the same or similar rights as the assignor.
This is where careful and competent trademark assignment agreement drafting is crucial and necessitates that the parties' intentions be followed when the assignment is made.
Does India allow the transfer of trademarks?
Through a process known as trademark transfer, the trademark owner may transfer the rights to their trademark. The exclusive use of a mark by its owner is known as a trademark. The right to transfer a trademark is one of the rights that trademarking bestows.
Can I sell the name of my trademark?
Trademarks are regarded as intellectual property, and like other types of property, they can be licenced, acquired, sold, passed down down the generations, or otherwise transferred.
Can two businesses in India share the same trademark?
A company name must not be the same as or like a registered brand, according to the Companies Act of 2013. To avoid the registration of a company or LLP with a similar or same name, any entrepreneur with an original business name idea can register the brand name.
Who is a trademark owner?
A trademark is often owned by the business that uses it. No rights in a trademark are established by having the concept for it. In some cases, a trademark may be held by one business or person while being used by another business under a licence.
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