Traddemark Assignment Procedure
Trademark assignment is the process of transferring ownership of a registered trademark from one entity to another. This transfer of ownership can be either with or without the associated goodwill of the business. Here are the steps involved in the trademark assignment procedure in India:
1. Preparation:
Before initiating the assignment process, it’s important to ensure that the trademark is registered and is valid. Also, both the assignor (current owner) and the assignee (new owner) should agree on the terms and conditions of the assignment, including any financial considerations.
2. Drafting an Assignment Deed:
The next step is to draft a trademark assignment deed, which is a legal document that outlines the terms and conditions of the assignment.
The deed should include details such as the names and addresses of the assignor and assignee, the description of the trademark, the assignment date, and any financial considerations.
The deed should be prepared on a non-judicial stamp paper of the appropriate value, as per the Stamp Act of the respective state.
3. Execute the Assignment Deed:
Both parties, the assignor, and the assignee, must sign the assignment deed in the presence of at least two witnesses. Each signature should be notarized.
The deed should be dated, and all parties involved should keep a copy of the signed deed for their records.
4. Notarization and Attestation:
The assignment deed should be notarized, which involves getting the document certified by a notary public. Additionally, the deed should be attested by the respective parties.
5. File the Assignment with the Trademarks Registry:
To complete the trademark assignment process, you must submit the assignment deed to the Trademarks Registry in India. Here’s what you need to do:
– Fill out the relevant forms: File the TM-P form, which is used to apply for the change in ownership of a trademark.
– Pay the required fee: The prescribed fee for recording the assignment should be paid along with the application.
– Submit the assignment deed: Attach a certified copy of the assignment deed with the application.
– Supporting documents: Include any other documents or information required by the Registrar.
6. Registrar’s Approval:
The Trademarks Registry will review the application and the assignment deed. If everything is in order and there are no objections, the Registrar will approve the assignment.
7. Publication in the Trademarks Journal:
The assignment is usually published in the Trademarks Journal. This is to give notice to the public about the change in ownership of the trademark.
8. Certificate of Registration:
After the assignment is approved and published, the Registrar will issue a Certificate of Registration in the name of the new owner (assignee). This certificate will establish the assignee as the legal owner of the trademark.
9. Update the Records:
It’s important to update all records, including your business documents, advertising materials, and any licenses or agreements to reflect the new ownership of the trademark.
10. Notify Licensees and Others:
If there are any licensees or third parties who have a stake in the trademark, it’s important to notify them of the assignment and update any existing agreements or licenses.
It’s advisable to seek legal assistance like Legato Business Solution LLP when dealing with trademark assignments to ensure that the process is carried out correctly and in compliance with the applicable laws and regulations.