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Written by : Aundrea Carnie
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hey what's up everybody this is attorney dan nguyen and today i want to answer this question can a trademark be sold and the answer is yes uh trademarks are considered with uh intellectual property so most people think of uh you know real property or tangible property like gold or silver other assets that you own but uh intellectual property is what's known as intangible asset and you know you can't hold it like like some of the other things that are physical items but they do have some value in the marketplace and so you can buy and sell sell trademarks now of course they're only worth as much as some what another person or another business is willing to pay so um many years ago one of my clients they wanted to um actually want to acquire a trademark and so they actually told me how much money they wanted to pay for it which i thought at the time was a pretty significant sum so that helped me realize the the power of um having a registered trademark because you know having a registration mark registered traders does tell the uh does tell the world hey i own this exclusively for this particular uh sector business and so if you have the exclusive roots that means no one else can use it and you can command a higher price for it it's harder to sell a trademark or common-law trademark if you don't have exclusive use because when the buyer gets it they don't have um they don't have assurances that someone else has the rights to the name okay and so why it's very important to as part of your business and even part as as your exit plan to acquire registered trademark so that you can increase the value of your business for someone looking to buy it and so as part of the process of buying and selling trademarks you know there's a purchase agreement and there's representations and warranties that go along in that agreement but what another thing also is the transfer of the ownership or of a registered trademark to the new owner and after the that the agreement's assigned at there is something what's called uh the uh assignment uh assignment which is basically transferring from the old owner to the new owner and once you get that you do have to update the patent and trademark office database and you would go through this particular website to upload the assignment to the new owner and it does takes about seven days to get official notice okay so uh it does appear right away it does take a little uh take a little bit of time but um once it's uploaded you will be reflected as the new owner uh so uh to answer the question yes you can buy and sell trademarks make sure that in order to maximize your trademark uh make sure you have a fairly registered trademark and the sooner you do it the better because the um five-year clock for statement of incontesability starts running as soon as you get the registration and you are uh you would be in a much better position to command a higher price if you are with uh uh have filed that um statement of income testability okay all right so this is dan and if you're looking to purchase trademark looking to sell your trademark looking to make sure you're the new owner of the trademark for free reach out to us and see how we can help okay this is dan thank you bye you
Thanks for your comment Jarrett Ysbrand, have a nice day.
- Aundrea Carnie, Staff Member
hi everybody and welcome to episode 12 of ask a trademark attorney in today's episode we're going to discover whether or not you can purchase a trademark the short answer is yes you can certainly buy a trademark or a trademark registration from someone that wants to sell it trademarks are considered intangible forms of property this means they are a property right just like owning a piece of real estate and can be bought and sold that said there's very specific requirements for purchasing a trademark and acquiring a proper chain of title so that you can own the trademark that somebody else owned and enforce it as if you were the original owner so if you're looking to purchase a trademark it's extremely important to consider a few things one does the person you're buying the trademark or trademark registration from have the proper ownership in place in other words somebody could own a trademark registration but the registration itself may have inherent issues maybe they haven't used the trademark in years maybe they never use the trademark and just registered it for the purpose of trying to sell it if you bought a trademark like that and you want to enforce it somebody may just be able to cancel on grounds that was inappropriately obtained so you really need to do your due diligence and who you're buying from and what you're buying specifically the second thing you need to be aware of is that to properly purchase a trademark and get in your name yourself you need to have a specific document called a trademark assignment completed depending on the circumstances there's a lot of magic language that has to go into this agreement meaning there's certain words that really need to be in there to properly transfer the rights to you and it's really recommended that you have an attorney do this because if you do it yourself and you don't use certain language the transfer of rights may not be complete and when you go to enforce a trademark again you may find there's an improper transfer of the title or improper chain of title which could be used against you in a court proceeding so I hope you found this video helpful as a bottom line yes you can certainly purchase a trademark or trademark registration from someone else you just need to be very careful that you're purchasing valid rights and then have them properly transferred over to you if you have any further questions on this please feel free to give us a call you
Thanks desfideaM your participation is very much appreciated
- Aundrea Carnie
About the author
I've studied engineering cybernetics at College of Saint Mary in Omaha and I am an expert in digital sociology. I usually feel disappointed. My previous job was traffic administrator (freight & passenger) I held this position for 6 years, I love talking about eating and model aircraft. Huge fan of Carl Edwards I practice skimboarding and collect police memorabilia.
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