Drafting of Trademark Assignment Agreements
Trademark assignment agreement is a written contract that transfers the registered trademark ownership to another person.
Special provisions are to be added to the contract, depending on what the trademark owner provides. The legal drafting team in HHS Lawyers create effective legal contracts that don’t just meet the specific needs of businesses, but also easy for customers to understand.
Some of the reasons why businesses seek the help of our experts for the drafting of a trademark assignment agreement include:
- To monetize the value of a registered trademark and enjoy investments done for creating the brand.
- To promote business expansion and maintaining brand alive.
- To work on brand building and also benefitting the new owner of the trademark
- To act as a valid proof and legal evidence in court
Depending on the type of assignment being provided, you may want the agreement to be tailored specifically to your business’ needs and requirements. The lawyers of the firm can help clients regarding the assignment agreement and help ensure it includes all the essential provisions such as:
Assignment provisions
This section in the agreement may include the details of the mark and the person or entity to whom the rights have to be assigned. They also include the rights and duties of assigner and assignee and the rights of ownership that are broadened.
Disclosure provisions
This section includes the provisions that should be disclosed and developed as per the assignment provisions. This may also include the provisions on consequences of disclosing the confidential information that come with the trademark assignment.
The seasoned lawyers and legal consultants of the firm have decades of experience in drafting different kinds of trademark assignment agreements including:
- Trademark license agreement
Under trademark license agreements, the Licensor of a registered trademark gives authorization to the licensee to manufacture and distribute products under the registered trademark
- Trademark coexistence agreement
The co-existence agreement is agreed between two parties to use a similar trademark for marketing purposes without interfering in each other’s work or business operations
Our legal drafting team helps clients create contracts that comply with local regulations and achieve what they are set to achieve when it comes to the assignment of a mark. Below are the key elements that should be mentioned in a trademark assignment agreement.
An effective date
When the trademark is officially transferred to the new owner
A description of the trademark
This may include legally recognized phrase, symbol and or the design including official trademark registration number that has been registered.
Identification of the assignor
Mentions the name of the current owner of the mark.
Identification of the assignee
Under this section, the name of the future owner of the mark is mentioned
Consideration
It is the amount of money that has to be transferred, if applicable, for the mark assignment.
Warranties
The guarantee from the assignor to have the right to transfer the mark.
Signatures
The signatures of both the parties in the contract.
Notary public
If a mark was registered in any foreign country, then it has to be notarized.
The experienced lawyers and legal consultants at HHS Lawyers fully understand the legal systems related to trademarks and are skilled at handling any type of legal drafting or legal documentation in UAE and Dubai. Our experts can provide you with the knowledge and skill you need in completing a mark assignment transaction.
The work should be completed within a limited time without any errors, as you may know very well. The expertise of our seasoned legal drafting team will not just help in putting together trademark assignment in a most effective format but also will the trademark owner to preserve the goodwill and the brand associated with the mark in UAE. Book your initial consultation now!
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What are the different types of trademarks that can be assigned with Trademark Assignment Agreements in UAE?
The assignor and assignee have to transfer trademarks and service marks through an agreement. The service mark or trademark can be registered or unregistered.
Explain the term warranty?
This term is for assurance which is made between one party and another to seek protection when every aspect of the assignment does not go as planned.
What is a trademark that is in the Madrid system?
The Madrid system facilitates the trademark registration in several different jurisdictions across the globe. This means the trademark is unique and enforceable in several different locations worldwide. If you want to know more about this, don’t hesitate to contact our trademark specialists.
