Selling a trade mark
As one of your business’s most valuable assets, you may be glad to know that your trade mark is in fact something you can sell if you wish.
You do need to be clear however that if you choose to sell your trade mark you will no longer have the right to use it and must change all existing business references that still use the mark.
The most popular way to sell a trade mark is through the sale of your business as a whole, so you can offer a complete package. Do be sure to include a correct valuation of your intellectual property when selling it as it can be very valuable.
Even if you do not sell your trade mark as part of a package, you still need to complete the necessary formalities.
The sale of a trade mark is formally known as an ‘assignment’.
This needs to be done in writing and needs to clearly state exactly what both parties are agreeing. This needs to be then signed by both parties and witnessed by another.
Most importantly, if the ownership of a trade mark changes, the UK Intellectual Property Office needs to be informed.
The UK IPO holds all records on all registered trade marks in the UK, the EU Intellectual Property Office for all trade marks registered in the EU.
It is essential that any changes to ownership or any other part of a trade mark’s registration is documented to the Office as it will allow their records to be up to date.
For more information on how to sell your trade mark or purchase one, contact The Trademarkroom.
By Ellis Sweetenham