Trademark assignment is advantageous to both parties. It gives you the ability to assign your trademark to another person permanently or temporarily. Let us look at the importance of trademark assignment in India.
Trademark assignments are advantageous to both parties. While the licensor benefits from royalties on the mark, the licensee gains the ability to extend its market operations by using the brand and developing its identity.
Importance of Trademark Assignment
Obtaining a trademark registration not only protects your brand against infringers, but it also allows you to realise the true value of your brand name. The ability to assign a trademark is one of the benefits of obtaining this registration. It allows you to assign your trademark to another person permanently or temporarily.
Expanding Your Business
Assigning your trademark is the way to go if you’ve always desired to extend your business in a seamless and low-cost manner. You can add support from another organisation to help you evolve your business by licensing your brand name. Both the assignor and the assignee profit from trademark assignment, and you get an opportunity to reach out to places you wouldn’t have been able to reach if you were running the business alone.
Furthermore, by partially assigning your trademark to another, you get the flexibility to work with more vendors and, as a result, you can grow your business into new markets.
Unlocking the Value of Your Trademark
Another advantage of trademark assignment is that it informs the brand name’s owner of its worth. When you assign a trademark to someone else, you can look at the value of your brand from the perspective of the assignee. This widened peripheral will help you make better decisions when it comes to deciding the future of your trademark.
Furthermore, if you understand the worth of your brand, you will have more confidence while entering the market. It has an indirect effect on your mind, which you can then use to further promote your business.
Valid Proof of the Trademark
With trademark assignment, you’ll have another tool in your inventory to combat any opposition. Assigning your trademark to another person is a legal process that necessitates the use of legal documents. In the event of a trademark dispute, legal rights would be easily demonstrated solely through the deed of assignment. The registrar ensures that all checks are in place by reviewing the validity of all provisions in the agreement and publishing the assignment in the trademarks journal.
Diversifying Your Marketing Strategy
Not everyone who has a trademark is a brilliant marketer. And, given the importance of how you interact with your clients, you’ll need to be adept at marketing to reach the largest possible audience. Diversifying your marketing approach by assigning your brand name to another. The assignee will put their own spin on things in order to gain access to the client base. Their approach will be distinct from yours, and as a result, it will be more effective.
Assignment of Trademark
The transfer of proprietary rights within a businessman’s property is known as trademark assignment. The following is an example of how an assignment is often made:
Complete Assignment of Logos
In a complete assignment, the trademark owner assigns all of the rights associated with the trademark, as well as rights such as the right to any authority, earn royalties, and so on, to a separate business.
Let’s say “A” is the owner of “XYZ,” and he sells his entire company to B through an agreement. A no longer owns or has any rights to “XYZ” as a result of this.
Partial Assignment of Logos
In a partial assignment, possession is only transferred for a certain purpose or service. The owner could keep and support the right to any transfer, royalties, and so on.
Furthermore, if the proprietor of a tea and biscuit business transfers proprietary rights just to the tea business, the owner of the biscuit business retains the rights to the biscuit business; this is known as partial assignment.
In India, starting a business needs to be taken seriously. To expand your firm, you must use a variety of strategies. Some of them would be out of the ordinary, and trademark assignment is one of them. This process not only increases the value of your brand but also secures the assistance of a third party to help you build your business through marketing.
Trademark assignment entitles you to a slew of advantages. These benefits, which vary from expansion to access to new marketing strategies, make trademark registration a desirable choice.