Sell your Trademark

What is a Trademark Selling?

Trademarks hold immense value for businesses and wield a considerable influence on sales. They reflect the uniqueness of your products or services, giving you a competitive advantage in the market.

In some instances, trademark owners may choose to transfer their trademark to another individual or entity. This transfer process, known as trademark assignment, involves reassigning the trademark from the current owner’s name to the new proprietor. Trademark assignment typically occurs when an entire business is sold, and it includes the ownership of registered trademarks. However, it is not mandatory in every case, and owners may decide whether to proceed with the assignment.

The party selling the trademark is referred to as the assignor, while the recipient of the trademark is known as the assignee. This process allows for the smooth transition of trademark ownership and facilitates the transfer of intellectual property rights.

Ways to Sell / Assign a Trademark

The transfer of proprietary rights varies from person to person, depending on how the assignor wishes to conduct the process. There are two primary types of trademark assignment, each with distinct characteristics:

• Complete Assignment:
  Under this type, the assignor can transfer all rights of the trademark to the assignee, including aspects like royalties and the right to further transfer the trademark.
• Partial Assignment:
  In this type of trademark assignment, the rights are limited to specific products or services, and the scope is determined by the assignor.

Additionally, there are two categories based on the nature of the assignment:

• Assignment with Goodwill:
  The assignor can transfer the full rights and value of the products or services associated with the trademark.
• Assignment without Goodwill:
  In this case, the assignor has the right to restrict the assignee from using the trademark for similar products or services. Both parties may use a similar trademark, but they must be for different products or services.

Transferring the Ownership via Trademark Assignment

To initiate the application process for trademark assignment, you are required to complete a form and submit it to the registrar. Either one or both parties involved in the assignment can request registration, but it must be done within a specified timeframe.

The registrar reviews the application and all relevant documents, and if everything is in order, the assignment will be successfully processed. Once you apply for trademark assignment, it should be completed:

1. Within 6 months.
2. After 6 months.
3. After 12 months.

Conclusion

The entire process is straightforward and does not entail a substantial amount of documentation. Trademark assignment offers the opportunity to utilize a well-established trademark without undergoing the entire registration process or filing a new application.