The interest, title, and rights in a registered trademark are transferred when a trademark owner assigns his or her trademark. With or without the business's goodwill, a trademark can be assigned.
Section 39 of the trademark law allows for the transfer or assignment of an unregistered trademark. For this, the assignor must submit Form TM-16, in which he or she requests the unregistered mark be assigned or transferred.
During the transfer of a trademark, the trademark owner and the trademark assignee sign a trademark assignment agreement.
The registered trademark owner's rights are transferred to a third party through a Complete Trademark Assignment. The trademark owner's rights are transferred to the assignee, who becomes the sole owner of the trademark. Upon receiving ownership, the recipient gains the power to transfer, trade, and sell the property while also prohibiting unauthorised use. Trademark licencing and trademark assignment are two different things.
Ownership of the trademark registration is passed upon assignment; however, in the case of a licence, the original owner retains ownership of the trademark, but the licensee receives limited rights to use the brand or trademark.
Benefits of trademark assignment-
• Expanding the business and raising its worth.
• It serves as evidence in any legal problems that may arise between the parties.
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