• Trademark rights after dissolution of company

Hi, I am planning to dissolve an OPC PVT LTD that holds a trademark. What happens to the trademark the company no longer exists? I read it costs 9000 INR for trademark assignment. Is that correct?

Thanks
Asked 2 years ago in Intellectual Property

First answer received in 30 minutes.

Lawyers are available now to answer your questions.

7 Answers

- If the company is going to be dissolved then after the shutting down the trademark will continue as an asset of the company 

- Further, it can be sold to any other company for a value , and the amount can be shared. 

- Further, the validity of a trademark is 10 years , and during this period it can be used and restart . 

- Yes, it costs 9000 INR for trademark assignment.

Mohammed Shahzad
Advocate, Delhi
13230 Answers
198 Consultations

5.0 on 5.0

Upon dissolution of the trademark each joint owner of the mark, shall not be eligible to use the mark any further on an individual basis. 

Irrespective of the grounds of dissolution, if both the joint owners of the trademark mutually agree, to transfer the rights vested in them as per the provisions of the Trade Marks Act, 1999 (through assignment), to either of them, to carry forward the business individually under the same joint trade-name, the same can be carried out by the conditions mutually agreed upon by them at the time of dissolution.

Ajay Sethi
Advocate, Mumbai
94725 Answers
7535 Consultations

5.0 on 5.0

Intellectual property is an asset for the company. It’s treated the same as real estate or physical property. The majority of the time, all of the company assets get sold at auction. 

If the company goes into bankruptcy, all assets are liquidated and sold for a fraction of their value at auction. This includes any intellectual property assets that are in the company’s name. Anyone has the opportunity to participate in the auction and purchase the IP.

A similar type of sale happens when the founders of the company voluntarily dissolve the company. If the founders do not have an agreement for ownership retention, then the IP gets sold with the other assets. 

On a rare occasion, a company will close without selling the intellectual property. In this situation, the ownership is acquired by the shareholders. However, this is rarely documented and often transferred incorrectly. 

T Kalaiselvan
Advocate, Vellore
84925 Answers
2196 Consultations

5.0 on 5.0

In the company's books of accounts, the trademark is shown as an intangible asset, right? In that case, the company may very well transfer the trademark to another by way of sale, by complying with the statutory requirements.

Swaminathan Neelakantan
Advocate, Coimbatore
2797 Answers
20 Consultations

4.9 on 5.0

Dear Client,

If you dissolve your company, there will be no goods left and no goods means no trademark. But if you want to continue that trademark with your another company, you can transfer that trademark in the name of your other/new company.

Thank You.

Anik Miu
Advocate, Bangalore
8883 Answers
110 Consultations

4.7 on 5.0

It can be surrendered if you want

Prashant Nayak
Advocate, Mumbai
31951 Answers
179 Consultations

4.1 on 5.0

Trademark is valid for 10 years after registration irrespective of the existence of the OPC. Any dissolution does not create any legal right to use that trademark. For assignment you need to have an agreement. That agreement needs to be registered with the registrar of trademark. Regarding the present fees you may please refer the rules or their website.

Pradipta Nath
Advocate, Durgapur
26 Answers

Not rated

Ask a Lawyer

Get legal answers from lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a lawyer