Can I sell my trade mark?

In short, of course!

A trade mark can be a valuable asset, with it being reported recently that Coca Cola’s intellectual property is worth much more than its physical assets.

Therefore you can create a huge amount of income from selling your trade marks through an assignment.

An assignment is a complete transfer of ownership of a mark to another party. This means you will be cutting all ties with the mark and you will have no influence over it in the future.

In most cases, an assignment of intellectual property is in conjunction with a complete sale of a business.

With trade marks specifically, the requirements for a successful assignment is outlined in section 24 Trade Marks Act 1994.

The key to an assignment to be carried through successfully is formality. The agreement must be in writing and signed by both parties for it to be legally binding.

An assignment of a trade mark does not have to be for the whole mark, you can sell the use of the mark for a certain class of goods and services for which it is registered. In addition you can authorise a party to have control over the mark if it is used in a certain location.

The UK Intellectual Property Office does require notification of any assignment to ensure their records are kept up to date.

If you want to discuss your options, Jane at The Trademarkroom can guide you through.

By Ellis Sweetenham