Intellectual Property – A brand has an intangible value more than a tangible value, but in the long run, it can be quantified. This is why many brands and businesses are looking to transfer trademark rights from her company to another company. This article dives into the process of transferring intellectual property rights to a brand, logo, or name!

Understanding intellectual property has evolved over time in India. The concept of intellectual property and related rights is now viewed from the standpoint of intangible assets. That is why the past decade has seen so much growth in legal understanding on the subject of intellectual property. The concept of intellectual property as an asset is the correct approach and also involves the sale, transfer, and licensing of this property. The trademark is one of the fastest-growing intellectual property rights in India. A brand means the brand name (for example, Tata tea, red label). The value of a brand equals the popularity you assume over time. Consumers begin to bind to specific brand goods and services. It is the good intentions that a brand or mark has earned over the years.

Below is a list of programs that will achieve the service quality, qualifications, reporting processes and benefits.
In India, the Trademark Legislation is the Indian Trademarks Act, 1999. The law addresses every necessary understanding of the legal issues surrounding a trademark. The law allows the transfer of these rights and provides various mechanisms for their implementation. The two options available to the trademark owner wishing to transfer his rights are as follows:

(A) Branding:
Trademark assignment is a temporary means of transferring a trademark from the owner to another person. Legally, it is the transfer of property rights over a product or service. A trademark may be assigned either a registered or unregistered trademark. It can be done in any of the literature:
(A) Full trademark referral: Trademark related rights are a set of rights, such as ownership, use, royalties, etc. The full assignment status of a trademark is such that it allows all rights related to a trademark to be transferred from the owner to another person. These rights include the right to royalties, the right to use, the right to sell or transfer the mark to another person, etc.
For example, if Flipkart sold its trademark rights to Walmart, it is a complete task in the sense that Flipkart will now not reserve any rights to the logo, trademark, or anything associated with it.
(B) Partial trademark referral: Out of a set of rights associated with a trademark, it is not always necessary to make a full trademark referral. Even if desired, a partial trademark referral can be made. Partial trademark referral restricts the transfer of rights to only certain products or services, which are implemented by trademark referral.
For example, if the owner of a trademark “Parley” specifically adds an item in the referral agreement, the assignee is only entitled to use the trademark related to dairy products, in which case, the trademark cannot be used for any other product regardless of milk.

Step-by-step procedure for a trademark assignment agreement:
Step 1: Submit an application to assign the trademark, the assignee, or the assignor of the trademark can submit an application requesting the same. However, it may also be a joint request of the assignor and the assignor for the implementation of this transfer. The request shall include the conditions of carriage, the owner’s previous and subsequent details, etc. The application must be submitted in FORM TM-P.
Step 2: Deposit the application After preparing the application in the form of TM-P, deposit it before the Trademark Registrar. This is required within six months of the acquisition of the property in question. Although this deposit can be delayed, it attracts the payment of some additional fees.
Step 3: Obtaining the Registrar Order: The transfer status is slightly different if it is a goodwill transfer or a registered trademark transfer. In either case, the directive is delegated by the trademark registrar six months before the expiry date (starting the day on which the appointment is made). This period may be renewable, but only if the registrant permits this extension.
Step 4: Trademark Assignment Announcement: The Registrar also determines in its direction the manner in which the referral will be announced. After directing the registrar, the announcement will be made. To ensure compliance, a copy of the advertisement is required, along with a copy of the registrar’s directions.
Step 5: Final approval and transfer: When registering satisfied with requests, advertising, and all other documents, the registrant must transfer ownership of the said trademark from the original owner (the assignor) to the new owner (the assignee). The name of the assignee is registered in the registry as a new owner of the said trademark. Then, in accordance with the terms of the trademark assignment agreement, the assignee can use the trademark correctly.
(B) Trademark License: The status of a trademark license so that the full ownership of the trademark is not transferred to another entity. However, restricted use is permitted by the Licensee. Trademark licensing agreements are mutually beneficial to both the Licensee and the Licensee. Licensee gets to expand its market and consumer base, while Licensee can enjoy royalty from the brand.
Although registering a licensee or licensing agreement is not mandatory, the same is recommended. This allows the Licensee to exercise its trademark rights against third parties. The licensee is registered within 6 months of the agreement with the Trademark Registrar. The application must be submitted either by the Licensee or Licensee or application for admission in the form of the TM-28 form. In addition to the said request, the following documents are also required upon registration of the licensing agreement:

1. A copy of the application form, certified by both the Licensee and Licensee.
2. A written certificate from the licensor specifying the terms and conditions of the agreement.
3. Power of attorney towards the agents, if any.
4. Any other document that the registrar may request as evidence.
If the registrar is satisfied with all the documents and other formalities mentioned in the process, he must register in the registry for this purpose. The entry should mention the date of the agreement, the date the application was submitted, and other details.

To conclude, there are two ways to transfer a brand from one business to another. The first is the assignment of a trademark, and the second is the licensing of trademarks. As shown in the job, each has its own steps that need to be completed in order for the process to complete.

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