A trademark is, simply your business name. Trademarks may be involved in just the business name itself, a logo or a “combined mark” that covers both your business name and logo.
What is the Trademark Assignment?
Trademark is an intellectual property and like any other asset, the proprietor of a trademark has the power to sell, license or transfer the owned intellectual property. Such a transfer can be made through Trademark Assignment or through licensing.
When a trademark is assigned, there are some variations in the ownership of the registered brand. But when it’s licensed, the benefits in the trademark continue to vest with the buyer but only a few qualified rights are given to the third party. This assignment can be done with or without assigning the business goodwill. In case of a registered trademark, such an assignment is required to be recorded in the Register of a trademark.
Benefits of a trademark assignment
Through an assignment agreement, the brand owner can unlock the value of the brand owner and can unlock the value of the brand, which, until this point, only has value on paper. The assignee, on the other hand, could be significantly better off beginning a market with a previously well-known brand, rather than developing a new one entirely.
In case of a dispute associated with the trademark, legal rights would quickly be established through the action. The Registrar assures that all the checks are in place by testing the validity of all the clauses in the agreement and declaring the assignment in the Trade Marks Journal.