Questions Legal

How to sell a trademark name?

Airtract

Rose M Domingo

Anything but predictable

Building a successful business in your name is a precious asset. Trademark in simple words refers to a “logo” or a “brand.” It is a sort of registration done by the businesses to make their business be recognized from the other companies. Every business has its trademark, and no two different companies can have the same logo. Here are the steps to be followed to sell a trademark:

  • Find your potential customers: If you are selling the trademark name of a successful business then there will always be buyers available. You can also put it for sale on the websites, where these sites will flash up your brand charging a nominal fee.

  • Bind an agreement: A legal agreement with accurate details of the trademark owner and the customer is a must. In a case of multiple owners, all of them have to sign the bond wherein the details of the transaction are included.

  • Transferring trademark: In US, to sell your trademark it is necessary to apply at the USPTO online site, for that you need to go to the trademark section in the site which will make you go to the page where the application for assigning the trademark will be accepted.

  • Submit your application fee: The application fee should be submitted which can be paid through debit card, credit card or electronic fund transfer.

If you are splitting a line of product or selling a business, it is necessary to transfer the trademark along with tangible assets. You can adjust the selling price of the brand and talk about the terms of the transaction with the buyers. Once there is a mutual discussion about the name of the contract, the above steps should be followed chronologically.

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