Process of Trademark Transfer in India
In case of Trade Marks, an assignment deed/transmission deed is to be executed for transfer of Trade Marks or rights therein.
Trademark Assignment
Trademark Assignment deed is executed to legally transfer the Trademark rights of the assignor to the assignee (person or company curious about obtaining the rights). In legal terms, it refers to the delivery of proprietary rights over products and services. The transfer under a trademark assignment is feasible within the following ways:
(a) Complete Assignment: The name depicts itself that this assignment facilitates the transfer of full ownership, i.e., all the rights, allowing the assignee to use, share, and process the mark in whatever way he wants while maintaining a distance from legal issues. After the execution of an assignment deed, the assignor holds no control over the brand, logo, or anything associated with that trademark.
(b) Partial Assignment: The partial assignment restricts the transfer of trademark rights to specific services or products. It is useful for those that don’t want to lose complete control of their rights over the Trademark. It bestows the assignor with the choice to share his rights while adding terms and conditions that limit the assignee’s control to some extent. Here both assignor and assignee enjoys the rights vested in Trademark on such terms and conditions or to such extent which are mentioned in the assignment deed.
What are the things which can be Register as a Trademark?
Many aspects of your brand image are often registered as a trademark. The aspect you would like to think about is which aspect of your brand stands bent your customers. Pick that aspect(s) for registering.
1. Name
a. Product Name: It is most important thing by which customers relate to your products, thus, you spend your time in creating a unique name and then you should must register the same in order to enjoy the whole-sole right and being exploited by unfair-trade practices.
b. Business Name: Registering a corporation name as a trademark is that the commonest route businesses take. Ex: Bajaj, Reliance etc.
c. Person’s Name/Surname: If your name plays a crucial part in generating revenue, then you’ll even trademark your name! Ex: Shah Rukh Khan has trademarked his name.
d. Abbreviations: Abbreviations of a corporation or name also can be a trademark. Ex: BMW.
2. Logo/Symbol
It is highly recommended to trademark the logo because it visually represents your brand. Your customers can recollect/reconnect to a logo faster than anything else. an excellent example of a logo trademark is that the ‘swoosh’ of Nike i.e.
3. Tagline
If you’ve got a tagline for your brand, you’ll plow ahead and trademark that also. A tagline tells your customers what you represent as a business. For instance, KFC’s “It’s finger lickin’ good”, AMUL “Utterly Butterly Delicious”.
4. Other Options
a. Colour Mark: Trademark is also taken for color or a mixture of colors. (Ex: Cadbury has trademarked the color royal blue)
b. Sound Mark: Musical notes or sounds are often trademarked if we will prove that it’s distinctive. Nokia has trademarked its tune.
c. Scent Mark: Even scents are often trademarked.
Process of assignment or transfer of trademark
Every trademark is assignable and transmissible. It can take place one among the subsequent forms-
The transmission or assignment of the trademark is often through with or without transferring the goodwill of the business. for instance, Tata taking up the trademark of Jaguar’s business in India. this suggests that Tata would also take over the goodwill of the brand entirely within the automobile business.
The assignment also can be finished with either some or all of the products or services that the trademark has been assigned. for instance, a cement company having multiple other businesses like construction, quarrying, and interior designing, assigning the trademark of its construction business only.
Filing form TM-P
To submit your application to the Registrar of Trademark for assignment of the trademark, you’ll need to compliance with the requirements of Form TM-P alongside the requisite fee.
Assignment Agreement
According to the Trademarks Act, an assignment can only be done by an agreement in writing between the parties concerned. Therefore, both the assignor and therefore the assignee of the trademark must execute a legal instrument for transferring the trademark. To assist you to navigate the method of drafting an assignment agreement, below are some essentials –
Mentioning requisite details
It is the legal title over the trademark that’s sought to be transferred. Thus, details about the trademark like the name, Application Number, Class Number Current Status (Active or not), etc should be laid out in the assignment agreement.
Delineating legal titles
The operative part of the agreement must also mention that the person transferring the trademark is that the lawful owner of it. The assignor must have all the rights, titles, and interests within the trademark. It must also establish that the assignor (either himself or through his successor, power of attorney holder). it’s the complete right, absolute power, and lawful authority to sell or assign the mark.
Consideration
This part should mention the amount of consideration and/ or consideration other than cash paid by the assignee to the assignor in exchange for the Trademark rights. The receipt of this establishes that each one rights, title, and interests within the trademarks together has an allowance. Also specify whether the transfer of trademark includes the transfer of the goodwill of the business in their trademarks, product permission, and other property rights.
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