In a competitive market, the most important element of protecting your brand value is Trademark. It can also help you improve your brand and business as a whole. One way to grow your business is to change trademark ownership under certain circumstances. For this reason, we will discuss the entire assignment of trademark procedure in detail in order to focus on the characteristics of the Business. Additionally, the assignment process also provides immediate financial benefits and reduces intellectual property management costs. So, let’s take a look at the process of trademark assignment, documents required and its fees in India.
Understanding the Concept of Assignment of Trademark in India
The process of transferring ownership of a trademark from one party to another party is called Trademark Assignment. This transfer can occur for many reasons, including business, merger, or sale. The nature of the trademark ensures that the new owner receives all rights and benefits, including the ability to use the mark in business and control infringements. To protect legal rights and notify changes of ownership, changes must be recorded and registered with the relevant Trademark office.
Assignment and licensing of trademark is often a transfer of trademark ownership. The term assignment denotes the switch of complete or partial switch of trademark rights from the assignor to the assignee. Moreover, after you learn how to switch trademark possession, you may easily begin reaping the economic blessings of a commercial enterprise call. There are numerous elements worried in the trademark challenge manner that we are able to discuss in this newsletter.
Types of Assignment of Trademark Procedure in India
So here are the various kinds of assignment procedures for trademarks in India:
Complete Assignment Process
In this type, all names, rights and interests in the Trademark are transferred from the transferor to the transferee. Here, the transferee becomes the new owner of the Trademark.
Partial Assignment Process
Commonly, for business copartnership, just parts of trademark rights are assigned. At this point, the assignment of trademark procedure can incorporate restrictions of geographical area, products and services, or a particular duration too. In this kind of assignment process, the entire ownership for the mark isn’t transferred.
List of Required Documents for Trademark Assignment
Given below is the list of key documents required for the assignment procedures for trademarks in India:
Trademark Assignment Deed
This is a legal document that outlines the terms and conditions for transferring business membership. It must be signed by both the transferor (current owner) and the transferee (new owner). The assignment deed must be notarized to verify the signatures of the parties involved. This Document shows:
- Transfer of Trademark ownership.
- Interest of the parties.
- Rights and obligations of the Transferor and Transferee.
Form TM-P
In order to assign the trademark to the third person you need to file this form before the proper trademark registrar. All the details in this form must be correct and as per the requirements of the authorities. Your single mistake can lead to unnecessary clarifications. Hence make sure to file this form consciously.
Proof of Ownership
In order to assign the trademark to any third party you need to provide the following two documents in order to prove the ownership of the trademark. This is because one cannot transfer anything which he or she doesn’t have.
- If the trademark is registered, provide a copy of the registration certificate.
- If the trademark is not registered, provide proof of the registration application.
Authorization Letter (If Applicable)
If the assignment is by the agent or an attorney, a power of attorney must be sent to the agent or attorney authorizing him to act on behalf of the transferor or transferee then it is required to have an authority letter at the border to perform the due process on their behalf. It is not just a formality but a mandatory requirement in such situations.
Trademark Registration Certificate
If available, provide the certified copy of Trademark Registration Certificate. This is mandatory for those who have already taken the registration on their respective trademark but for those whose application is pending for the registration such document is not necessary.
Identity Proof, Address Proof and Other Supporting Documents
Copy of the Identity proof like Aadhaar card, PAN Card, Bank details and Address Proof like Home agreement, Electricity bill etc of the Transferor and Transferee. Other supporting documents which are required to the assignment process.
Ensuring all documents are accurate and complete will help the assignment process go smoothly. Consulting an attorney or professional can help resolve complex issues.
Procedure for the Assignment of Trademark in India
So here are few steps to initiate assignment process for the trademark in India:
- Very first step is to prepare an application for the assignment which is made by the assignee (the new owner), the assignor (current owner).
- Secondly, when the application is accomplished, file it with the registrar office of the trademark.
- If the assignment of the trademark involves good faith or is a registered trademark, instructions must be obtained from the registrar of trademark. It must be obtained before the end of 3 months (can be extended if necessary).
- After receiving instructions from the Registrar, the applicant should market the trademark undertaking according to the Registrar’s requirements.
- As soon as the registrar completes all of the documents, the trademark is transferred from the original owner to the brand new owner (assignee).
- The call of the transferee (new owner) may be registered inside the Trademark registrar as the new owner of the trademark.
- The transferee (new owner) can use the trademark under the phrases and conditions targeted within the settlement.
Conclusion
Trademark assignment is an important process for protecting the integrity and market value of a business. The parties can ensure the transfer of operating rights by carefully preparing and executing the assignment agreement, completing the necessary forms and documenting the transfer with the relevant parties. This process not only protects the interests of the transferor and the transferee, but also preserves the integrity of the trademark and regularly promotes business management and protection.
FAQs
- For what reason would it be a good idea to register my trademark?
Trademark registration safeguards your privileges to utilize the imprint and gives lawful response against contravention.
- What do you understand by Trademark?
Trademark is a widely used term. It is the symbol or name that creates the identity of the business.
- Is assignment and licensing of trademark important?
Yes, absolutely this is important for business transactions that involve the sale or transfer of products and services.
- Who is the assignee and assignor?
Assignment procedures for trademarks is a simple written document transferring well-known words, phrases and symbols or designs from the original owner to another owner. The actual owner of the brand is called “assignor” and the future owner is called “assignee”.
- Is it necessary to register on the Trademark assignment?
Although not required. It ensures notification of transfers and recognition of the legal rights of the transferee.
- What is a Class 8 trademark?
It deals with hand tools as well as implements them (hand-operated); cutlery; side arms; razors.
