Whether an Assignment Deed will attract Stamp Duty?

An Assignment of a TradeMark is made always for a consideration. But, a trademark is considered as ‘movable property’. Therefore, whether it attracts the provisions of Stamp Act is doubtful. This question of law is not yet decided by any High Court or Supreme Court, because the Act defines the ‘Assignment’ as ‘writing by act of the parties concerned’. A partner may assign his trademark in favour of continuing partner or retired partner as per the Dissolution Deed or Retirement Deed executed between the partners. In such cases, the Stamp Duty will not attract and it is considered as ‘transfer’ of a mark in favour of one partner. On the same line one Company may transfer their trademark to another Company by passing resolution in the Board. These acts of the parties in writing may be considered as ‘Assignment’ as per the definition in sec 2(1) (a) of the Act.

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