Owning a brand is widely considered one of the most important and valuable assets for any business. Therefore, it is important not to be ignorant when it comes to trademark assignment. Abusing or violating the law while a business owner is engaged in assigning a trademark can completely discredit the enforceability of the trademark and invalidate its value.
Under the Trademarks Act 1999, assignment of trademark means a written assignment of the trademark by the parties concerned. Simply put, this means that the owner, or someone authorized by the owner, assigns the trademark in writing to another person.
In addition, the Owner may assign the Mark to all goods and services or only to some goods and services. In addition to the trademark, the trademark owner can also assign goodwill or just the trademark without the goodwill of the trademark. Also, be aware that unregistered trademarks may belong to others. When two companies merge, the brand of the amalgamating company is transferred to the amalgamating company. This merger of branding between companies involves the allocation of brands.
Understand the Importance of Branding
Trademark registration not only protects your brand from cybercriminals, it also allows you to realize the true value of your brand name. Transferability of the trademark is one of the advantages of this registration. This allows you to temporarily or permanently assign your brand to another person. Here are some points that demonstrate the importance of branding in India. Help your business grow
Assigning a brand can be beneficial if you’ve always wanted your business to grow seamlessly and affordably. Licensing a brand name allows you to grow your business with support from another organization.
Transferees and transferees alike benefit from the brand transfer, giving them the opportunity to reach out to areas they would not be able to cover if they were running the company alone. Similarly, partially reassigning a brand to someone else gives you the flexibility to work with more merchants, allowing you to expand your business into new markets.
Acts as a valid trademark proof
Using your branding example gives you a better tool to counter resistance. Assigning a trademark to another person is a legal process that requires the use of legally required documents. In trademark disputes, legal ownership can be easily declared with just a trademark assignment deed. Registrars ensure that all verifications are in place by validating all requirements of the agreement and posting assignments in branded magazines.
Expansion of marketing strategy
Not all brand owners are effective marketers. Also, given the importance of how you communicate with your customers, you need to know your marketing to reach the widest possible audience. Diversify your marketing strategy by mapping your brand name to another brand name. Reps spin aspects to access the customer base. Their technology is different than yours and therefore more efficient.