Why is the Trademark Assignment Agreement Crucial for any Business?

Keeping in mind the importance of trademark assignment agreements is crucial for every entrepreneur who wishes to protect their intellectual property, from copycats or other organizations who aim on flourishing with the ideas of others.

Trademark agreements are established with the aim of defining the assignment process that occurs when, the ownership of a trademark application or registration is transferred from one party to another.

On one hand, the party which is responsible for transferring the trademark is called the assignor. On the other hand, the receiving party, which will have the right of property, is called the assignee.

First of all, licensing involves a written contract which allows the licensee to create, use or sell any type of intellectual property. The main difference is that such agreements can limit the way the licensee can use the IP, by specifying whether the license is exclusive or non-exclusive. In addition, the licensing agreement is responsible for outlining whether the licensee has obligations to pay royalties or not. It is believed that such licensing agreements are mainly directed towards, technological innovations.

To give a brief comparison, licensing is when a party grants permission to use a brand in some limited manner, meaning that when a license is granted there is no transfer of property rights like on the trademark assignment.

In order to undertake a valid trademark assignment agreement, the following points must be met:

To wrap up, entrepreneurs must understand that trademark assignments can be finalized both orally and written. But in fact, the written proof is always the better option because the assignor must show evidence stating the intention for the ownership transfer, as well as, the assignee must read the goodwill before the transfer is valid.

Related posts:

Despite the significant investments pumped into DEI initiatives, most organisations still struggle to stop the revolving door that professional women swing through at alarming rates. While experts…

Web push notifications are clickable messages sent by an online store to the browsers of subscribers and customers. Very similar to how push notifications from apps work, web push notifications work…

Attorney Ronald E. Johnson of Schachter & Hendy concentrates on legal issues regarding defective products. A recent article in the The New York Times says that food companies are expecting consumers…