Registered trademark brand is always and asset for and company / individual. Proprietor of trademark can transfer the registered brand through trademark assignment like their physical properties.
Trademark Assignment means transferring benefits, right, interests, title to other person using trademark assignment. The receiving party is called the assignee and transferring party is called assignor. Both registered and unregistered brand can be assigned with or with goodwill of business in writing using section 2(1) (b) of Trademark Act 1999.
As per section 37 of the trademark Act 1999 the person or entity registered has proprietor of mark has
right to transfer ownership of such mark and receive consideration.
Types of Trademark Assignment
Where Proprietor of mark transfer all right of trademark to other person including the rights to earn royalty against the mark and other further transfer rights is called complete assignment.
Where proprietor of the mark transfer the right registered brand with specific products and services which extends to the limits of rights are called has partial assignment.
Assignment with and without Goodwill of Business
The mark can be used by assignee into any class of goods and services in with goodwill and business. The mark cannot be used by assignee into other class of goods and services in which as assignor is already using.