38. ASSIGNABILITY AND TRANSMISSIBILITY OF UNREGISTERED TRADE MARKS. -(1) An unregistered trade Mark shall not be assignable or transmissible except along with the goodwill of the business Concerned. (2) Notwithstanding anything contained in sub-section (1), an unregistered trade mark may be assigned or transmitted otherwise than along with the goodwill of the business concerned if- (a) At the time of assignment or transmission of the unregistered trade mark, it is used in the same business as a registered trade mark, and (b) The registered trade mark is assigned or transmitted at the same time and to the same person as the unregistered trade mark; and (c) The unregistered trade mark relates to goods in respect of which the registered trade mark is assigned or transmitted.
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