Trademark Assignment – Definition

In simple words, Trademark Assignment means selling trademark.

Trademark is an intellectual property of an owner. Just like an owner can sell any other property of his or she, Trademark can also be sold for a price.

 Selling a trademark

Selling the trademark does not mean selling the company. A company may have many brands under its ownership. The following things are needed –

• Assignment deed – As you can sell any property like a car or a house by going into an agreement with the buyer, the same way a trademark can be transferred by an Assignment deed between the buyer and the seller.
• Registration of Assignment Deed with Trademark registry to record buyer name as owner of the trademark in the Trademark Department’s records.

Trademark Assignment Deed – Important Pointers

• Selling Price or Consideration for transfer of trademark is very important clause based on which stamp duty of the Assignment deed is calculated.
• Geographical area within which assignee or purchaser can use the brand.
• Information if the transfer is with Goodwill or without Goodwill.

Trademark Licensing and Assignment – Difference

 Two of these might sound similar, but are actually different in many ways. Trademark Licensing is permission granted to use a given brand name and Assignment is transferring or selling the trademark to others. Also, licensing is for a limited period of time.