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What Is Involved When Selling A Trade Mark Name?

If you did a really great job creating and managing your business you may get a big pay off by eventually selling it. So, what is involved when you go to sell your business, and it’s trade mark name?

If you are selling your company’s name, for many business owners they may be concerned about all the components that go along with the selling process. This falls under the category of intellectual property practice and falls under the category of trademark and business-name issues.

According Herrick, Feinstein
 “It is important that if any trademark is sold, it is sold with the ‘good will’ of the business reflected by such mark," he asserts. In the U.S, a sale of a trademark without that "good will" will actually render the mark void if it is ever challenged in court."

It seems to circumvent this issue most sellers are required to relinquish all rights to the name, including web URL addresses, any legal company names, banners & signs, inventory or product names, trademarks and trademarks. Furthermore, the seller is barred from starting up another company with an identical name.

Trademark law, possession rights don’t exist till a name is employed as a trademark relating to the sale of products or services in the U.S. If you are merely using a name on website it is not considered trademark used. According to Barry Werbin chairperson of the intellectual property practice group at Big Apple legal company. 

Names can be transferred simply by composing a bill of sale, allotting it and then recording the exchange with the U.S. Patent and Trademark Office and with any applicable state. Before you sell, make sure your company’s trademark is active, Werbin asserts. Under U.S. 

You can find more information on trademark rules and processes at this link here. To keep such company assets as accounts, inventory, customer lists or trade methods, then there is no substitute for good legal advice with experience in company and trademark matters.

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