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One of the benefits of owning a registered trademark and service mark is that you have the right to sell or assign the trademark to another owner. A trademark assignment agreement is the contract through which individuals and companies can sell their trademarks to another party. Trademarks and service marks can have value because customers may associate these marks with certain products and services, a certain degree of quality, or may have certain expectations when encountering a trademark or service mark. If you plan to sell your trademark or service mark, Contact Legal Counsel, P.A. and speak to our trademark assignments lawyer in Orlando, Florida today. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
A trademark assignment agreement should include specific details to protect the rights of the seller and the buyer. Both parties should be clearly identified in the contract, the date on which the sale is effective should be included, and the trademark should be clearly defined. Ideally, the trademark will have been registered at the state and federal levels, and the contract will include the official numbers associated with the trademark or service mark. The contract should also include descriptions of the goods and services the trademark or service mark describes. Trademark assignment agreements can also include agreements to sell intellectual property. Finally, it is important to distinguish between a license agreement and an assignment agreement. An assignment agreement is the sale of a trademark or service mark from one party to another. The seller loses their rights to the mark and the buyer gains the rights. A license agreement, on the other hand, grants the buyer the license to use the trademark or service mark, but does not result in the seller of the license to lose his or her rights to the trademark or service mark.
When dealing with trademark assignments, sometimes trademarks might be registered in multiple countries or jurisdictions. Speak to our trademark assignments lawyer in Orlando, Florida at Legal Counsel, P.A. who can review your situation and help you with your trademark assignment and protect your rights. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.
There are several issues that can arise during the closing of a trademark assignment agreement. For example, you’ll want to make sure that the person selling the trademark does in fact have the right to the mark. Checking with the federal database is a good first step, but this step alone might not be conclusive to protect your rights after a trademark assignment has been finalized. If another company has been using the trademark, but the trademark was not registered, this company may still have rights to the mark. It is important that thorough research be performed regarding registration of the trademark, any litigation surrounding the trademark, and research be performed in the industry to see if any similar or older trademarks exist. Each party should also disclose any liabilities or known issues. It is also important to consider the geographical scope of the trademark. Has the trademark been registered internationally, federally, or at the state level?
If you are in the process of finalizing a trademark assignment agreement, want to sell a trademark, or want to purchase a trademark, consult with our qualified trademark assignments lawyer in Orlando, Florida at Legal Counsel, P.A. who can review your contract, help you understand your rights, and take steps to protect your interests, whether you are selling or buying a trademark or service mark. Have questions? We have answers. Contact Legal Counsel, P.A. today at 407-982-4321.