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Assignment of Trademark - Transfer of Trademark
Overview
A Trademark is an intellectual property and in today’s era it is considered as the most promising and important asset of any business, because it represents the brand and connects with the customers. Usually in business, people tend to buy and sell assets and it needs to be registered to make it legalised. So, to sell a Trademark, an assignment of trademarks is required to make the sale legal and to update the changes, in trademarks journal and register of trademarks.
This assignment can be done with or without assigning the business goodwill. The procedure in case of assignment without goodwill is moderately high. In case of assignment with goodwill, full ownership of the registered trademark is transferred to the buyer. In case of assignment without goodwill, the goodwill is shared by both assignee and assignor as per the assignment deed.
Benefits of a Trademark Assignment:
Legal Proof: As said, the trademark is just an important asset like another tangible asset. Huge investments are made on brand building. A transaction without legal proof can raise disputes, confusions, fraudulent activities, false claims. In case of a dispute associated with the trademark, legal rights would quickly be established through the action. Assignment of trademark assures that the ownership is transferred legally and as per the assignment deed.
Brand Recognition: The assignee can have the already established brand and can earn the goodwill and brand recognition of the already existing trademark.
Time saver: These days every business owner is filing trademarks application. In most cases after filing the application, the mark is objected and marked for hearing, which can take up to 1-3 years before acceptance. And even at hearing, there is no surety that the mark will get accepted. Even if the mark is accepted, at any stage of time, there is still a possibility that a third person can file opposition to your trademark, which might again take up to 2-3 years. So, buying an already registered trademark through trademarks assignment, saved a lot of hassle and time.
Documents Required
Assignment Deed
Affidavits
Power of Attorney
Note: Above mentioned documents are to be drafted by Startup Sampark.
PROCESS
Step 1 – File Assignment of Trademark request in Form TM-P along with assignment deed and power of attorney. The government fee for same in INR 9000/-. An application can be made by the assignor or assignee or both can make a joint request to register assignee as a subsequent proprietor.
Step 2 – Prepare and file Affidavit with registrar. The affidavit is to be filed within 30 days of Assignment request made by the Assignor (if request made by assignee) or by the Assignee (if the request is made by assignor)
Step 3 – TM-P change in address of services of attorney. This is to be filed, if there is change in service address by way of TM-P along with fee of INR 900/-.
Step 4 – The officer if not satisfied with the assignment request or have some remarks or requirements, then they will raise a Scrutiny Report. Reply to which has to be done within 30 days.
Step 5 – The officer will go through the application and replies filed and if satisfied, will approve the form and mark it for changes on Trademark portal and send it for advertisement in trademarks journal.
STARTUP SAMPARK PROCEDURE FOR TRANSFER OF TRADEMARK
Assignment of Trademark (Transfer of Trademarks) is very detailed procedure, which requires keen knowledge, procedure and team of professionals. Each Transfer assignment has its tailored requirements. We at Startup Sampark have a full-fledged, dedicated team of professionals. You are required to fill the form and then our experts will reach out to you, to know the exact requirement and gather further information. Then our experts at STARTUP SAMPARK will be at your disposal for assisting you with guidance concerning Transfer of Trademarks and its compliances. Our professionals will assist you in planning seamlessly at the least cost, confirming the successful conclusion of the process. We shall guide you with Do’s and Don’t’s as well. We will begin working on your request once all the information is provided, and the payment is received.
WHY STARTUP SAMPARK?
Startup Sampark is one of the platforms which coordinates to fulfil all your Secretarial, Legal, Licensing and Taxation requirements and connect you to consistent professionals. Our team consist of Chartered Accountants, Company Secretaries, Cost Accountants, Advocates, Patent and Designs Agents, Trademarks & Copyright Attorneys, Paralegals and other legal professionals.
We are a management consultancy and technology platform to simplify legal and business related matters. We are committed to help start-ups, small business owners and non-compliant businesses in solving their legal, secretarial and taxation compliance related to setting up and running the business smoothly and compliantly.
Our clients can also track the assignment progress at all times through a dedicated portal provided to you along with User Id and Password. You can comment and find the resolution and ask questions on the dedicated portal provided to you. If you have any questions about the Transfer of Trademarks and further process, our experienced representatives are just a call away.
- Step 1: Fill the query form.
- Step 2: Our Expert will connect with you
- Step 3: Make payment through hassle free payment portal
- Step 4: Get confirmation on mail and receive User Login and password
- Step 5: Submission of documents with us
- Step 6: Executive will process your application
- Step 7: Track progress of your order all the time on our client portal
- Step 8: Greetings, Order completed
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FAQs
Usually apart from the documentation and signing (which usually take a 5 – 15 days), the government timeframe is of 3 months, as per law. However, due to one or another reason, things usually end up taking time. So as per our experience, the whole assignment process usually gets completed within 3 – 12 months of time.
After taking over the goodwill associated with the trademark, the assignee is free to use the trademark assigned to him for all goods or services including for the goods or services which were already in use by the Assignor. Such assignment is called assignment with Goodwill of Business
In assignment without goodwill the owner restricts the assignee to use trademark for the particular list of goods/services for particular jurisdictions. That is, the goodwill attached to the owner’s brand with respect to the product already being sold under such brand, is not fully transferred to the buyer.