Trademark is a kind of Intellectual property which protects the name, symbol, logo, nouns etc. It is considered as a physical property like any other property the owner of the and has the right to sell, transfer his property and the same he can do with his Intellectual property. Every brand or Trademark owner has full right to sell or transfer their Trademark by way of licensing or Trademark assignment. Trademark Act, 1999 deals with licensing of Trademark and Trademark assignment.
Trademark assignment is the part of Transfer of ownership of Trademark from one person to another person. The process of change on ownership of the registered mark is known as Trademark assignment. Whereas in Trademark licensing, there is no change in the owner but a few restricted rights to use the Trademark are given to a third party.
Further assignment of Trademark usually takes place through an agreement between the parties which is known as Trademark assignment agreement. Assignment agreement is legally valid when the intention of the assignor is in good faith.