Assignment of Trademark (India) by OLL
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Assignment of Trademark
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This document is a formal agreement for the transfer of trademark ownership from an assignor to an assignee. It includes the transfer of the business goodwill and includes a non-compete clause to protect the new owner's interests for a specified period and area.
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About this template
What is this template?
This is a formal deed of assignment for a registered trademark in India that includes the sale of the underlying business goodwill. It contains specific warranties regarding the assignor's title and a restrictive covenant preventing the assignor from competing for one year. It is not a simple license agreement as it transfers absolute ownership and the right to use the business style.
When should you use it?
Use this when a business owner is selling their entire interest in a brand and its reputation to a company and needs to update the Trademark Registry. If you only want to allow another person to use the mark while retaining ownership, use a Trademark License Agreement instead.
What's inside
| Clause | Name | What it does |
|---|---|---|
| NOW THIS DEED WITNESSETH | Assignment of Trademark and Goodwill | The Assignor transfers the business name, goodwill, and specific Trade Mark Number to the Assignee for a stated sum in Rupees. |
| 1 | Covenant of Authority | The Assignor warrants they possess full right and absolute authority to assign the trademark and have not granted any prior licenses. |
| 4 | Further Assurance | The Assignor must execute additional documents required for registration of the agreement with the Registrar of Trade marks under the 1958 Act. |
| And the Assignor further covenant | Non-Compete Covenant | The Assignor is prohibited from competing in similar goods for 1 year within a five kilometer radius of the original business location. |
Who it's for
- an individual proprietor in India transferring a registered trademark to a registered company
- parties requiring the transfer of business goodwill alongside a specific trademark registration number
- an assignee seeking a non-compete restriction on the assignor within a 5km radius for 12 months
How long it runs and how it's signed
Law it's drafted under
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