Does a Trademark Assignment Need to be Notarized?

A trademark is necessary to stake a claim on a good or service that a person, company, or other enterprise or entity considers and recognizes as one of its creations and deliveries. 

Moreover, for which the owner feels the need to distinguish the worth, the availability, and the accessibility of the good or group of services from those offered by competitors. 

A brand trademark gives its intended audience the impression that it is special and well-liked. In line with that, it is established.

A trademark considerably aids a business in standing out in a market of fierce competitors or products made by an individual credited with his invention or linked with his ingenuity.

What is an assignment of a trademark?

Trademarks can be bought, sold, transferred, or licensed just like other types of property because they fall under the category of intellectual property. Such trademark pooling or transfer takes place through a licence agreement or assignment.

When a trademark is assigned, there are various ownership arrangements for the brand. However, only a small number of rights are transferred to third parties when it is licensed.

The buyer still retains most of the rights. With or without assigning benevolence, it can be done. 

The transfer must be noted in the Trademark Register if the trademark registration online is complete.

Benefits of Assignment of a Trademark

• Instead of producing value for a new brand, assists the brand owner in releasing the brand's true worth.
• Assists the assignee in utilizing the brand value of the product or service
• Serves as credible evidence if a trademark-related lawsuit is brought.

Requirements to assign a Trademark 

• Pending trademark application
• Issued trademark registration certificate
• Goodwill in business
• Applications and registrations related 
• Applications and registrations made abroad
• Names of connected people (both alive and deceased)
• Registered email addresses and social media accounts 
• Domain names
• Execution Conditions
• Witnesses and signatories
• Execution date and location 
• Notarization and legalization
• Legal authority

Notarization of the Assignment of the Mark

The Assignment must be legibly typed down or stamped on stamp paper with the appropriate value or denomination, as well as being duly notarized. If the assignee plans to register the trademark abroad, notarization is required. 

For instance, if the applicant is from another nation, he or she must notarize the document in the country where they will live or die. Care must be taken to ensure that it is stamped in India even while doing this.

Additionally, this action has been taken to make it simple to demonstrate that there is no active legal dispute. The assignor is required to provide a notarized affidavit at the time of transfer proving ownership of the trademark.

Process of Trademark Assignment

• A trademark assignment must be requested appropriately by the assignee.
• Form TM-P must be submitted either individually or jointly by the assignor or assignee.
• The assignee will become a subsequent proprietor with the aid of this form.
• Apply with the Registrar of Trademarks within six months of the date of proprietorship.
• The required payments must be properly paid even though the form can be completed and submitted later.
• The regulation must be made before six months from the date of assignment for certified trademarks.
• Then, the assignee must publicize the assignment.
• To the registrar's office, send copies of the application and the advertisement.
• The registrar will then declare the assignee to be the trademark's owner.
• The details of the assignment will be noted in the trademark.

How to Assign a Trademark?

• Complete Assignment: A third party now has access to all trademark-related rights, including the right to authority and royalties.
• Partial Assignment: Transfer of only some of the services or rights, with the owner reserving the right to assign the remaining rights and receive royalties.

 Types of Trademark Assignment 

 With Goodwill - Promotes the exchange of a trademark's brand value and proprietary rights. The assignee can increase sales and business growth by using the brand's market reputation.

 Without goodwill - The assignee is not permitted to use the assignor's brand value. Customers are thus unable to utilize the trademark in the same manner as the assignor. is known as a dreadful trademark task.

 Advantages of Trademark Assignment

 Unlocking Value

The brand owner can unlock the value of the brand through an assignment agreement, which was previously only valuable on paper. Instead of creating a new brand from scratch, the assignee can fare much better by entering a market with an established brand.

 Valid Proof

The deed would make it simple to establish legal rights in the event of a trademark dispute. By confirming the legality of each clause in the contract and publishing the assignment in the Trade Marks Journal, the Registrar makes sure that all checks are in place.

 Conclusion

Through assignment agreements, trademark rights can be transferred. When a trademark is assigned from one party to another, either full ownership (including goodwill) or ownership for a specific range of goods or services is granted to the other party (without goodwill). 

Typically, a single payment is required. Even if the trademark is not registered, this kind of document, also known as an assignment deed, can be signed. 

For instance, creative designers are frequently required to transfer ownership of their work to the organization that commissioned it. Of course, registered trademarks are also transferable. 

In either scenario, the assignee has six months to submit an application to the Registrar.