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CHENNAI : It is the capital of Tamil Nadu and is located in the eastern India. It is one of the biggest economical , Cultural and educational centers of India . The Quality of living survey also state that Chennai is the safest city in India In the year 2015 it is also ranked to be the 43rd most visted city in the world. It attracts various tourist as they are having Chennai Central , Marina Beach , Madras High Court , TIDEL Park , Ripon Building , San Thome Basilica , Kapaleeshwarar Temple etc
Trademark is an intellectual property of an enterprise, a trademark not only represents the brand it’s associated with but also plays the representative role of the goods & services it is responsible for, and just like any property these intellectual properties can also be sold or transferred through the process of licensing or through the assignment. In the former, only a few rights are vested in the other party but in the latter, there is an unconditional transfer of rights with the third party with the third party becoming the undisputed owners of the trademark. Though Trademark Assignment in Chennai might have types in which the propertiership has been transferred to the third party there is a complete and incomplete assignment i.e. the party can choose to either give an absolute assignment of the trademark or can choose to give restrictive assignment of the trademark, while on the other hand there is assignment of trademark with or without goodwill, which can also be understood as the value attached to the goods and services with respect to the trademark in question. Furthermore, it is important to understand that Trademark Assignment has some of its shortcomings as well, though the Trademark has to be understood in terms of intellectual property that can be transferred, the greater good of the public has to be kept in mind of the people as well in order to skip confusion of any sort with respect to the public, hence due to this reason there are limitations that have been prescribed by the Trademark Act, 1999 regarding the ownership of rights by different parties of Trademark Assignment in Chennai.
The benefits if trademark assignment can be understood in a twofold manner wherein the assignment of the trademark majorly helps the other party in establishing or carrying forward an already established trademark rather than starting from scratch, the potential of the trademark might be explored better pertaining to a trademark assignment with the other party who is also the assignee. The assignment helps in establishing a better foothold in the market with the help of an already established and well-known trademark, then the potential or value of the trademark can be further unleashed.
Another advantage of the Trademark Assignment in Chennai is the fact that there might be a legal dispute regarding the assignment of the trademark from one party to another, the trademark assignment deed is the foremost instrument that helps in aiding the legal intricacies in the trademark assignment and helps solve disputes that may arise in future due to the assignment.
In many cases, a brand or an enterprise might want to use a trademark which is already in existence in the mark, so to use the trademark the assignment of the same is crucial in order to carry on which the aforesaid brand continually. Moreover, Trademark Assignment in Chennai gives the advantage to the assignee to use the trademark (which is already established in the market) towards its benefit.
The Trademark Assignment in Chennai process is carried out by the parties when they have fully finalized that there will be an assignment of the trademark in question amongst them. Mostly parties resort to professional help in regard to the assignment procedure, this is done so as to there is no scope of any discrepancy regarding the whole process. Moreover, it is not possible for a non-experienced person to handle the legal intricacies pertaining to the same. CompanyVakil.com provides a platform for this Online Trademark Assignment Chennai wherein the party can approach the easy procedure followed by the company and get a trademark assignment executed smoothly. The process of Trademark Assignment in Chennai is as follows
The minimum requirements of the parties when filing for a Trademark Assignment in Chennai can be enumerated as the following:
However, there are certain other conditions that are to be kept in mind in matters pertaining to the Online Trademark Assignment Chennai which are as following
There are three documents that are primarily essential for filing for Assignment and Licensing in Chennai which can be enumerated as the following
Unleashing the value of the trademark – The value held by the trademark can be easily unleashed when once the assignment has been properly executed by the parties, the value which only pre-existed on paper can now be well realized and be molded in a better way when it ventures into the market.
The stamp duty on the Trademark Assignment is calculated according to the consideration furnished
Whether the assignment is with goodwill or not
The Section 38 & 39 of Trademarks Act, 1999 provides for Trademark Assignment
The forms TM-23 & TM-24 has to be filed (according to Rule 68 of Trademark Rules) for Assignment and Transmission of Trademark Chennai
In case of assignment with goodwill, the rights and valueare also transferred to other entity & in case of assignment without goodwill,there is an assignment of restricted rights.
If made within 6 months of propertiership – 5000, if made after 6 months but before 12 months – 7,500. Lastly, ifmade after 12months of acquisition of propertiership – 10,000. (All figures are in INR)
Yes, the assignment of a trademark can be done to the foreign parties but only with the permission of concerned authority.
The Trademark Assignment in India deed
The TM-16 has to be filed according to section 38 for Assignment with or without goodwill in case of an unregistered Trademark
Form 23 or 24 has to be filed for a registered trademark, as according to section 39 of the act.