Trademark, like the actual property of a land, is intellectual property. The owner of the land can even do the same for his IP, as he has the right to sell or move his lands. Any owner of a name, brand or trademark shall, by licencing or by means of assignment, pass his rights to his trademark. The Trade Mark Act of 1999 regulates licences and the assignment of trademarks.
The method of transition of rights and possession of the logo to some other individual is known as the trademark assignment. Partial trademark assignments are usually referred to as a warrant.
In addition, it is typically by the application of an arrangement between the parties known as the Trademark Assignment Agreement that the trade mark assignation is assigned. The contract of assignment shall be treated as legally binding if a section of the assignor demonstrates its intention to pass absolute or partial possession of the trademark.
Complete assignment;
In such assignment, the second party shall be transferred full rights in respect of a recorded mark. The owner passes to the other party, including further transition rights or the receiving of royalty, all rights over branding.
For eg, A the owner of a brand, sells his mark in full with B. Today, A has no rights with regard to the brand.
Partial appointment;
For a partial transfer of goods, the transfer of exclusive rights is restricted to such services/products as negotiated by or conveyed by parties in a contract for the trade mark assignment.
X, who runs a company used for jams, jellies and dairy products, for instance. X grants to R only the rights of the brand to milk goods and holds the rights on the brand to jams and jellies.
In comparison, a whole and incomplete assignment with goodwill or without goodwill will be carried out.
Goodwill assignment;
Such assignments shall be made if they are of importance and correct and all the trademark products shall be passed with gratitude to the third party.
For instance R, the owner of a 'Shudh' brand for shoe products, sells his brand to S so that S can use the 'Shudh' brand for milk products and all other products that it manufactures.
A TM registration acknowledgement slip with payment details
A stamped copy of form TM authority bearing Trademark application number
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