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Trademark Assignment

A trademark is a sign, symbol, word, or words registered or legalized for the use of representation of a company’s product or services. Hence, any tamper or illegal use of this trademark by any other company it does not belong to, gives the authorized company the right to legal action – making trademark of a company the most important feature of its existence.

As a trademark is owned, it can also be sold, transferred, etc., depending on the intention of the owner. The owner can transfer the trademark and its rights to anyone he wishes following legal procedures by way of assignment or licensing. The process of change in ownership of the registered trademark is known as trademark assignment. Whereas, in trademark licensing, there is no change in the owner but a few restricted rights to use the trademark are given to a third party.

The assigning of the trademark can be done in the different ways such as the

Complete Assignment-If a trademark is transferred to another entity it is known as the complete assignment of trademark.

Partial Assignment-If the transfer of ownership is authorized to certain products and the owner can transfer the royalties is known as the partial Assignments.

Assignment with goodwill-When the owner transfers the rights and royalties of the trademark associated with, while selling the product or service it owns, is known as assignment with goodwill.

Advantages

  • Trademark mostly helps us for the Marketing of the brand
  • There is no burden of proof
  • It has high value of Value and good will of trademark in the market.
  • Trademark registration takes much more time than Trademark Assignments.