Trademark

What is meant by Trademark owned by company or assigned to company?

calendar15 Oct, 2020
timeReading Time: 3 Minutes
Trademark owned by company or assigned to company

The Trademark gets registered under the Trademark Act, 1999, after checking the availability of the unique name. One can apply for a Trademark under the different classes by which the activities and product of a company falls or their businesses are related thereto. An application must be made online. Any person can apply for a brand name being unique to the name of a Company, which later after being registered will be known as the Trademark owned by Company. Along with which, one must file separate applications for a name of products by which the product or services of a company are marketed and known in market.

Documents Required for Company Trademark Registration

The documents which are required to be submitted to Registry by a company as an applicant are mentioned below:-

Company Trademark Registration

The Fees of Government for making an application by a company is Rs 9,000. However, if the company is willing to claim the rebate of 50% on Government Fees, then the same can be possible by a way of providing a Registration Certificate under Start-up India Scheme or MSME Act[1]. Hence, if a company visualize its expansion in the near future, then a Company may directly apply for Trademark Registration considering its advantages as it must always considered as a valuable asset for a company.

Read our article:An Overview on Document Required for Trademark Registration

Trademark owned By Company

An application can be made before Incorporation of company in a name of any of the promoters. A Trademark must be transferred by way of assignment to the company after its Incorporation. The company can adopt the trademark in the same by way by passing a resolution for entering into agreement with the Promoters or Director with respect to IP Assets held by them. This whole process covers few applications, affidavits and Declaration that has to be submitted before the Registry for successful transfer of a Trademark to the Company.

In case if a company is engaged into more than one product with different names or in case with the same name but falling under the different classes, then it is advisable to protect the products under all the classes to claim the benefits for all the products and to secure their right to use. The Trademark is the valuable asset for any of a Company. A company can gain considerable advantages and profit having this intangible asset.

Trademark owned by Individual, can assigned To Company

The trademark is applied in name of individual other than company; he must require providing supporting proof of right to use the name. An agreement can be made for usage of trademark by company and promoter or third party can be executed. At the time of trademark registration process examination and hearing can be made at different stages during which the Registry might ask the applicant to provide proof to support the application. At given time, normally the invoices, accounts, etc. are requested. Hence, the proof containing owner’s name and brand name must require to be furnished.

In case if a company is making an application in its own name, a proof in company name will be necessary to be presented on demand. Thus, an application for trademark, the applicant must keep in mind to make available considerable proof on demand by the registry.

Application made under Numerous Classes

If a company deals in more than one product or activities, it can be more beneficial to file an application under all the mandatory applicable classes as it gives the protection to all related products and activities. This is important as the reason behind that a competitor will apply for the same or deceptive name which may affect the business negatively.

For example, a company who is engaged in manufacturing & online trading of leather bags has the capability to attract minimum of two classes. Class 18 will cover manufacturing whereas class 35 will cover online trading. In case the product gets protection under class 18 while only considering the protection to manufacturing, then an online trading can be missed. The competitor will use same brand name for online trading as the activity of “online trading” is not covered by class 18. Hence, the value created by brand name can benefit the competitor and hence once he obtains the rights on a brand name, he can confine the other company from using the online trading. Therefore, an application under both applicable classes is necessary for a company to secure its brand name and its value.

Conclusion

The application of trademark registration is a crucial step where each element is decided after considering the situational facts and provisions of law. The trademark can be assigned to a company is said as trademark owned by company. Corpbiz helps in maintaining the expenses made on registration and also advises the business entity to gain considerable advantages and profit. Trademark or Brand name always proven to be a valuable assets for the company.

Read our article:What is Trade Description in Trademark Registration in India

Soumya Bajpai

Soumya has done LLB (Hons) and has a 2+years experience in writing. Her main interest is in reading judgments, new enactments and amendments taking around in law. She always strives to bring the best to work that she does.

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