A Trademark Assignment is a written document that acts as a legal road to transfer a recognized word, phrase, and symbol or design which originally originated by the current owner to another owner. The Current Owner is known as the “the Assignor” and the future owner is known as “the Assignee”.
A trademark is a prized possession or valuable asset because it helps the customer to quickly associate certain qualities with a recognized brand. This agreement allows the owner to properly transfer the goodwill of the business to another party without jumping any hurdles.
“Trademark” is frequently brought into play when we refer to both a trademark and a service mark. The trademarks are used to identifying products and goods while the Service marks identify the services provided.
A simple Trademark Assignment Agreement will identify the following basic elements
Remember that registering a trade name is not the same as the registering a trademark.
It is a legal road that helps in transferring ownership or a trademark or service mark when needed. A transfer of ownership comes into the play when a product or company is being sold or purchased by another person or organization.
| Federally Registered | Common Law or Unregistered |
|---|---|
| Uses Registered trademark symbol (R) or ® | Uses the Trademark symbol ™ or (TM) |
| Formally registered with the USPTO | Uses the Service mark symbol (SM) |
| Enhanced rights because the public is on Notice | Brand names and Logos are automatically protected when a company uses the mark in the normal course of commerce |
USPTO is a federally registered mark that allows you to track the assignment on your trademark Query Site.
Without the Trademark Assignment, there will be a dusky vision on the record who currently owns the mark. Hence, the following are the consequences of not using the agreement
| Assignors | Assignees |
|---|---|
| Loss of time 1. Time spent establishing that mark was not transferred |
Loss of time 1. The higher burden of proof that the trademark was transferred |
| Loss of Money 1. Another business uses your mark without paying you |
Loss of Money 1. Unable to capitalize the value of goodwill |
| Loss of Image 1. Business goodwill affected 2. Customer Confusion Of Product |
Loss of Image 1. Unable to federally register 2. Receive a cease and desist letter |
Forbes has valued Google’s trademark at a whopping $44.3 billion, while the Microsoft trademark came in right behind at a value of $42.8 billion.
The Trademark Assignment Show agreement should cover the following detail which is as follows
The transfer of trademark takes place in various forms. The Owner can transfer all its rights with respect to a mark to another entity in different ways.
Lets’ understand this with two case’s example-
Example 1 - The proprietor of a brand ABC Pvt Ltd sells his trademark completely through an agreement with XYZ Pvt Ltd. After this transfer, ABC Pvt Ltd doesn’t retain any rights with respect to the brand or trademark. This is a complete assignment of transfer of trademark.
Example 2 - Mr. Santram the proprietor of a brand used for pickles and sauces and spices product. He assigns the rights in the brand with respect to only the spicy products to Mangatram and retains the rights in the brand with respect to pickles and sauces.) This is called partial assignment of trademark
The road doesn’t end here there are following types of Trademark Assignment which are as follows discussed-
The fee for the trademark assignment differs according to the nature of the assignment.
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