Section 2(1) of the Trade Marks Act 1994 (the Act) states that:

2. - (1) A registered trade mark is a property right obtained by the registration of the trade mark under this Act and the proprietor of a registered trade mark has the rights and remedies provided by this Act.

Trade marks are intellectual property rights and as such intangible assets classifiable under the law of England and Wales as personal property (in Scotland, incorporeal moveable property) under s22 of the Act.  Registered trade marks often change hands for large sums of money.

In addition s27 of the Act states that:

27. - (1) The provisions of section 22 to 26 (which relate to a registered trade mark as an object of property) apply, with the necessary modifications, in relation to an application for the registration of a trade mark as in relation to a registered trade mark.

As a result a registered trade mark, or even just an application for a registered trade mark, can be included as assets of a company in liquidation.

Whilst they are normally disposed of with the business in which they are used, offshore transfers of registered trade marks sometimes occur where, for example, a UK manufacturer is controlled by a non-resident parent.  A registered trade mark is a separate asset from the goodwill of the business in which it is used  and can be assigned as property separate from the goodwill of the business under s24(1) which states:

24. - (1) A registered trade mark is transmissible by assignment, testamentary disposition or operation of law in the same way as other personal or moveable property.

In addition it does not fall within any of the classes of assets which qualify for rollover relief. 

Trademarkroom