How to Transfer Rights to a Trademark in India
Additionally, some trademarks have a higher value than other tangible assets. As a result, once you register a trademark in India, you can sell, transfer, or lease it.
Trademark assignment
Transferring trademark rights from one person to another is accomplished through trademark assignment. The transfer of trademark rights to a product or service is the legal term for it. With or without the assignment of goodwill, a trademark can be assigned, whether it is registered or not.
Any of the following methods can be used to achieve this:
Complete Assignments
The owner of a trademark gives up all rights to the trademark to another person, including the right to earn royalties and make additional transfers, among other things.
For instance: X possesses the brand 'ABC'. Through a trademark assignment agreement, X gives Y his trademark, "ABC," in its entirety. After that, X won't have any rights to the ABC brand.
Partial assignment of logo
The transfer of possession is restricted to the specific product or service in a
Partial assignment of logo . The owner can keep the right to get royalties, transfers, and other payments.
For instance, A, the proprietor of a tea and an entire of bread rolls, moves the possession privileges in regard to the tea overall and holds the freedoms of the rolls all in all, being a halfway assignment can be said.
Assignment Made in Good Faith
. The trademark owner gives another person the rights, benefits, and value of the trademark. The assignee of a trademark may use it for any class of goods or services, including those already in use by the assignor, when it is assigned in good faith.
For instance: The brand "xyz" is owned by X. The name "xyz" is given to Y by X in good faith. In relation to their food products and other products, Y will be able to use the brand "xyz."
Assignment In Bad Faith .
when the owner limits the recipient's use of the trademark to the goods for which he uses it. That is, the customer does not receive the customer's goodwill for the goods that have already been sold by the whole owner. This suggests that both the party and the receiver will use the same trademark, but for different goods or services.
For instance, if the owner of the trademark "AB" produces and sells watches and decides to transfer it without goodwill, it implies that the recipient can use the trademark for goods other than watches. .
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The Procedure for registering a trademark assignment with the Registry are as follows:
Transfer of an unregistered mark:
According to Section 49, even a trademark that has not been registered can be assigned, transferred, or used in bad faith by the business in question. An invitation of the type TM-16 must be prepared in order to assign or transfer an unregistered trademark.
Transfer of a trademark that is registered:
Trademarks are frequently either fully assigned or partially transmitted, regardless of whether the business is acting in good faith, according to Section 38. On either twenty-three or twenty-four types of trademarks, each transmission or assignment must be registered with the Registrar of TradeMarks. (2002, Rule 68 of the Logo Rules).
Deed of assignment:
The assignor must confirm that there is no trademark dispute pending in a court of law. Both the assignor and the assignee must confirm that the transfer of funds has taken place outside of India in connection with this assignment. Finally, the assignee must take the necessary steps to effect the registration of the deed by signing. The date on which the deed is recorded must be mentioned. Once a trademark is assigned, a change in trademark owner must be filed with the Trademark Registry.
Additionally, you require any assistance with trademark registration. Any inquiries or requests regarding the assignment of trademarks can be handled by the team of experts at My Financial Advisory. Feel free to get in touch with us at info@myfinancialadvisory.com or by calling +91 7015605390.
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