Trademark like any asset can be transferred from one proprietor to another. Just as in the instance of physical property such as land, every owner of a Brand or Trademark has the right to sell, license, transfer, etc. its respective brand or Trademark in accordance with legal procedures. Assignment of Trademarks is a procedure in which the owner of the Trademark transfers the ownership of the mark either with or without the goodwill of the business.
Manner in the way Assignment can be made
The following manners in which Trademark assignment can be made as follows:
- Complete assignment of Trademarks: The owner of the Trademark handovers all the rights with respect to the Trademark, including the transfer of the rights such as right to further transfer, earn royalties, etc., to another entity.
- Partial assignment of Trademarks: The transfer of ownership is restricted to specific product or service only. The owner may retain the right to further transfer, to earn royalties etc.
- Assignment with Goodwill: This is an assignment where the owner transfers the rights and value of the Trademark as allied with the product it sells.
- Assignment without Goodwill: This is an assignment where the owner restricts the assignee to use Trademark for the products he uses it for. That is, the goodwill attached to the owner’s brand with respect to the product already being sold under such brand, is not transferred to the buyer.
In a case of assignment or transfer of a single trade mark:
- If made within six months from the date of acquisition of proprietorship, then the official fee is Rs.5000;
- If made after expiration of six months but before 12 months from the date of acquisition of proprietorship, then the official fee is Rs7,500;
- If made after 12 months from date of acquisition of proprietorship, then the official fee is Rs10,000;
LexOrbis Counsels have extensive experience in Trademark Assignment procedures. The Trade Marks Counsels at LexOrbis will help in Trademark Assignment with proper laws and procedures such that client’s rights are not bestowed.