Trademark is an intellectual property and like any other asset, the owner of a trademark has the right to sell, license or transfer the owned intellectual property. Such a transfer can be made through Trademark Assignment Agreement or through Licensing.
When a trademark is assigned, there is a change in the ownership of the registered brand. But when it’s licensed, the rights in the trademark continue to vest with the original owner but only a few restricted rights are given to the third party. This assignment can be made with or without transferring the business goodwill. In case of a registered Trademark, such assignment is required to be recorded in the Register of trademarks.