Are Trademarks Transferrable?
Everything you need to know
You might be in a situation where you must trademarks transferrable rights to another business or person. In this article, we’ll teach you everything there is to know about the trademark transfer process.
When you successfully transfer the ownership of your mark permanently to another business or person, it’s called an “Assignment”.
Trademarks transferrable from one person to another, one business to another, or from a business to an individual, or vice versa. The transfer can be a temporary one facilitated through licensing or a permanent one carried out through the assignment process.
The trademark assignment of brand logos can occur when you, as the owner of a trademark, transfer ownership and control of your trademark either with your business goodwill or without.
In other words, you’re transferring exclusive rights within your business property. Here are the various types of trademark assignments and what they entail.
This refers to a situation where you, as the owner of a trademark, now transfer all rights related to a mark to a third party.
You also grant them the right to accept royalties or even transfer the rights to other businesses or individuals.
For instance, if you, the owner of XYZ company, sell your trademark through an agreement to Mr. B, you’ll no longer retain any rights to XYZ company.
Partial assignment of logos
This refers to a situation where the transfer of rights is restricted to a specific service or product solely. As the owner of the mark, you can still retain all rights to any transfer or the ability to claim royalties and much more.
For instance, you, the owner of a trademark that includes biscuits and tea, can transfer the proprietary rights related to biscuits to a third party and still retain the rights over tea whole.
When this happens, it is called a partial assignment of the trademark.
Assignment with goodwill
This refers to a situation where you, as the owner of a trademark, transfers rights to the trademark to a third party for the sole purpose of allowing the third party to manufacture a specific product.
For instance, you, the owner of the “ML” trademark for the production and marketing of shoes, now assign the rights to the trademark to a third party so they can create the same product.
Assignment without goodwill
This refers to a situation where you, as the owner, transfer the rights to your trademark to a third party but restrict the trademark’s use to a specific service or product that isn’t similar to what you manufacture or offer as a service.
For instance, if you, the owner of the “ML” trademark, produce and market shoes and you decide to assign the trademark to a third party without goodwill, it means the third party will use the trademark to do everything else apart from producing and marketing shoes.
Should a trademark get assigned to you, it’s important that you register the transfer of ownership with the appropriate Trademark Office.
If you want to transfer your trademark to a third party, we can help you start the process.
At Trademark Depot (TMD), our Canada brand registry professionals will start and finish the trademark transfer process for you and ensure that everything goes successfully.
Transferring your trademark shouldn’t be a hassle, which is why Trademark Depot (TMD) is here to help you.
If you need help with your trademark transfer or registration, you can contact the experienced professional at Trademark Depot (TMD) for a free trademark analysis or any questions you may have with the trademarking process.