The Trade and Merchandise Marks Act,1958
Section 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.