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With businesses and economies relying on continuous creative work, innovation and brand value, holding the intellectual property are more valuable than ever. With transactions based on Intellectual Property increased more in the last decade, it’s highly crucial to manage intellectual property and seek professional advice when it comes to transferring, selling, sharing exclusively or on joint terms. Our counsels help you to seek good terms with the other party, assign the IP and complete your IP transaction smoothly.
In case of assignment with goodwill, assigners transfer absolute rights i.e. all the rights and values associated which give absolute authority to transferee to control, to sell or to improvise or change the quality or structure or completely stop the services of such products. It is basically that transferor is replaced by transferee in terms of authority, control & rights & after assignment transferor is completely barred from using such IP associated with any products & services in kind.
It means the right to use IP associated with the specific products or services of the transferor is transferred to the transferee & rest of the goodwill lies with the transferor. Accordingly, transferees can use such IP for specific products & services as per agreement unless and until it is likely to deceive or create confusion. It does not create multiple rights in the same goods or services or if they are associated with each other.
Trademarks are of great advantage to any business and determine their brand visibility and value. Mostly, companies are known from their logos, slogans or visuals, which are their trademark. It reflects your products or services. At times, the owner can transfer or assign his/her trademark to another person. Selling a trademark also known as the assigning of a trademark from your name to any other person.
No, it’s not strictly needed. Usually, the parties sign an agreement and the application is filed with the Registrar. However, certain jurisdictions might make it necessary to get the agreement notarised.
It is the biggest value-asset of a business. Imagine, you get one day to represent yourself as Google’s CEO or India’s Prime Minister. You can imagine the possibilities it can bring to you. Goodwill is the positioning, market value and presence of any business.
Goodwill is one of the hardest-to-value assets of a business. An assignment of goodwill is also a situation where a deed is considered most appropriate to evidence that such a valuable transfer of property from the seller to the buyer was indeed fully intended.
Yes. As long as you don’t transfer an IP with goodwill, or with complete rights, you can assign it partially to as many parties as possible, without forming any potential conflict of interest. It is always advisable to consult an expert for this.