Transfer of propritory firm

Arjun (Querist) 30 June 2013 This query is : Resolved
Dear All,

I want to transfer my proprietary concern M/s. XYZ (shoe retailer) to my brother, now the firm has 2 trademarks in its name, Kindly pass your suggestion on below queries:

a) How to transfer a proprietary firm to my brother ( will a simple sale agreement will help or i need to get a court decree)?
b) Firm has 2 trademarks one registered another (ABA) so should i make deed of assignment first in the name of my brother as individual and later transfer business

Kindly Suggest.

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ajay sethi (Expert) 30 June 2013
you dont need a court order to transfer your proprietory concern/ trade marks to your brother .agreement would suffice . contact a local lawyer .

prabhakar singh (Expert) 30 June 2013
A Transfer Deed with a clause of assignment is your need.
Getin touch of a lawyer.

Rajendra K Goyal (Expert) 30 June 2013
Well advised by the experts ajay sethi ji and prabhakar singh ji, nothing more to add.

Raj Kumar Makkad (Expert) 30 June 2013
Well advised by experts.

prabhakar singh (Expert) 30 June 2013
thank you MAKKAD G!

Devajyoti Barman (Expert) 01 July 2013
1. For business you can execute a deed of gift.
2. For trademark you can execute deed of assignment.

Raj Kumar Makkad (Expert) 01 July 2013
Most welcome from your side Singh saab.

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