There can be a lot of reasons behind a person changing his trademark ownership rights after trademark registration in UAE. Trademark is a very valuable asset of the company and that is why a person must be very careful while changing its ownership in the right way.
A trademark might be assigned to someone in business acquisition. When someone else acquires a business, the trademark is also obtained by him because of it being an asset of the company.
If the owner of the trademark wills, he can change the ownership of the trademark as well. Although changing trademark ownership is a complicated task yet it can get solved easily through the help of legal consultants in UAE.
Transferring trademark ownership in UAE
Here is the simple procedure that should be followed for transferring the trademark ownership in UAE;
• Transfer of documents between the related parties
• Transfer of documents between the U.S. Patent and Trademark Office (USPTO).
Transfer of documents between the related parties
Formulate a transfer agreement for laying out the terms and conditions regarding the transfer. Everything including the payment terms, transfer terms, information about granted rights etc. should be there in the agreement. Make anything clear right from the start to save yourself from unnecessary fuss.
In the agreement should be mentioned that the previous owner is granting all the ownership rights of the trademark to the new person who has acquired the company.
Transfer of documents between the U.S. Patent and Trademark Office (USPTO)
USPTO will sign the agreement which will allow you to go ahead and complete further processing of transferring the ownership rights. The trademark owner must record the transaction with the USPTO. You can also use an online means to record the assignment. All you need is to fill the form and complete the process by submitting a transfer agreement’s copy as well. This process will not take more than a day for completion if you use the online medium for assignment recording. Make sure to pay the fees for completing the process timely.
People can also file the recording manually but it will take more time as compared to online submission. Were the online submission takes a day, manual submission takes about a week.
While you are handling the documents, make sure you do it accurately. A number of disputes and consequences can get raised in case of problems in the agreement. That is why you must make sure that each and everything is being handed in a proper legal way.
If you are the one our chasing the trademark, you must carry out the process of assignment recording to USTPO appropriately. If not, you might end up getting in a dispute with the prior owner. So, make sure to handle such technicalities through a suitable method. Farahat & Co will help you any trademark related services.
Trademark ownership transfer is quite a critical matter just like that of trademark registration in UAE. So, you must take wiser decisions throughout the process. It will save you from future problems and other inconsequence as well.
Click here to know about trademark registration.