This article is about Trademark Assignment Templates.
Federal trademark registration with the United States Patent and Trademark Office is one of the most important assets a business can have.
A registered trademark gives you exclusive rights to use the mark in any state, even if you are not yet operating in that state. A registered trademark can also deter copycats. Another major benefit of trademark registration is that it can increase the valuation of your company.
If you want to sell or transfer your company, a registered trademark can get you more money for your business. You can use a Trademark Assignment Template or Agreement to transfer your mark.
Make sure that the Trademark Assignment Template has all of the important terms for transferring your mark. There are many legal contracts online that are free. I’ve looked at many of these free contracts but the contracts are often missing key terms.
If you use a Trademark Assignment Template and it is missing key terms, the transfer may be incomplete. If you are on the receiving end, you may not be entitled to profits that are associated with the trademark and notices to remind you to renew your mark.
Altogether, make sure that you have a Trademark Assignment Template that is based on the most current federal law and findings from the United States Patent and Trademark Office. (See below for how I can help you with this.)
What is a trademark?
A trademark is a brand name, logo, or design. A trademark is something that lets consumers know you are the source of a good or service.
Can you trademark a smell?
One of my favorite trademarks is the Play-Doh smell!
Yes, the Play-Doh scent trademark protects Play-Doh's signature smell and prevents any other company from having a product with the distinct smell of Play-Doh.
Why transfer trademark ownership?
Utilizing a Trademark Agreement Template, you may want to transfer a trademark because of a name change, or because you sold ownership to another company, or because you bought a company. You must record this change with the USPTO.
Don’t jeopardize the goodwill of the business by not properly executing your transfer.
What are the steps to transfer ownership?
First, you need to notify the USPTO via the Electronic Trademark Assignment System. Fill out the required form by clicking here https://etas.uspto.gov/.
Second, you might need to submit the document that transferred ownership (the Trademark Assignment Agreement). This is usually determined by state law. It is often a copy of the trademark assignment agreement or an excerpt from this contract.
Third, you need to pay the required filing fee. The fee is $40 for the first trademark form and $25 for a subsequent filing.
Lastly, you can check the Trademark Status and Document Retrieval (TSDR) to verify that the correct ownership information has been recorded. If the information has not been updated, you must notify the USPTO. The method of contact is determined by the status of your trademark application.
What is a Trademark Assignment?
A Trademark Assignment is an agreement from one trademark owner to another owner. For example, an original owner might want to assign all trademark rights to a newly formed entity (like an LLC).
The owner may have filed the trademark application in his or her personal name, and now wishes to transfer the trademark registration into the business's name. [Click here to read about the importance of separating your business and personal assets.]
A current owner might also want to transfer their trademark to a completely separate business following a sale.
Regardless, a trademark assignment is basically a contract that assigns ownership of a trademark to another person or entity.
The contract is usually a short 2-3 page document. The main terms usually include the transferor/transferee information, effective date, the extent of the transfer of ownership (i.e. whether it is a complete assignment), and a section to sign in front of a notary.
What laws govern the assignment of a trademark?
The applicable trademark law depends on the type of registration. If you have a state trademark registration, then state law applies to your assignment. If you have a federal trademark registration, then the Lanham Act is the governing law.
If you do not have a federal or state trademark registration, you may still have common law trademark rights that protect your brand and unregistered trademarks.
It is important to make sure that your trademark transfers are pursuant to the appropriate state or federal statute.
What is a Trademark Assignment Template?
A Trademark Assignment Template is a predesigned agreement transferring the ownership of the trademark from the current trademark owner to the new owner.
Like any template, you customize the template for your situation, trademark, and business.
Where can I get a Trademark Assignment Template?
You can buy trademark assignment templates online, but you should be cautious. I've had several clients show me "legal document" templates that they have purchased online, and the documents are often missing key terms. If you need this, I suggest reaching out to me. I am happy to help customize a template for you AND give you a blank Trademark Agreement Template to use in the future.
You can contact me at (754) 800-4481 or book a consultation on my website.
Why is a Trademark Assignment Important?
You might lose the ability to get notices which can result in missing deadlines.
Most importantly, you can potentially lose the ability to enforce your trademark against an infringing person or business.
Conclusion
Remember that a trademark is an extremely valuable asset for a business. A transfer must be done correctly to reduce unnecessary risks. If using a Trademark Assignment Template, be cautious. An incorrect transfer can jeopardize your infringement exposure. Do it properly the first time. It can take a lot of effort and a lot more money to fix assignment changes, compared to properly updating the trademark database.
This article was about Trademark Assignment Templates.
Please call me at (754) 800-4481 or book a consultation on my website if you'd like me to prepare a Trademark Assignment Agreement. I'd be happy to help customize a template for you AND give you a blank template to use in the future.
Further References
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