What is Trademark Assignment?
Trademark rights are transferrable through assignment agreements. When a trademark is assigned by an owner to another party, its ownership is conferred upon the other party, either completely (with goodwill) or for a limited number of products or services (without goodwill). It usually involves a one-time payment.
Such an agreement (often called an assignment deed) can be signed even if the trademark is unregistered; creative designers, for example, are often asked to assign ownership of the work to the entity that commissioned it. Registered trademarks can also be assigned, of course. In both cases, the asignee must apply to the Registrar within six months.
To transfer ownership rights of a trademark, an assignment agreement must be signed.
6 Essential Facts on Trademark Assigment
The basic meaning of trademark assignment is transferring the ownership of marks. It includes transferring owner's rights, title and interest in a trademark or a service mark. The person transferring is known as "assignor" and the receiving party is called "assignee". It is different from a license, in assignment the property rights of ownership is transferred to a new owner(assignee).
Assignment of a trademark or a service mark might occur due to a relatively isolated transaction, or as part of a much larger distribution of tangible and intangible assets, it can include sale of the assets of business.
Yes, it is important to register a trademark/service mark before filing the trademark assignment. The Registrar office will not accept any mark for assignment if it is not registered, the mark holder must apply for the registration before attempting an assignment.
The specific requirements for a trademark assignment vary by jurisdiction but the basic demands of the same are; The assignment needs to be in writing; Both the parties needs to be identified before the assignment. The mark that is registered for trademark assignment needs to have an identification with the Registered office. Identifying the goods and services related to the trademark or service mark. Trademark assignment is to be given for consideration; The effective date of assignment needs to be mentioned. All the documents need to be duly signed by the assignor and the assignee and in the prescribed format. Transfer of goodwill which depends on some jurisdictions.
This is not constant for all, it is dependent on the jurisdiction and varies accordingly. The laws and regulations for certain trademarks which are used in commerce or are subject to pending registrations should be checked for specific requirements.
There are various types of trademarks based on their categories, they are as follows: Product Mark Service Mark Collective Mark Certification Mark Shape Mark Pattern Mark Sound Mark