The United States Patent Trademark Office provides that you can give your US trademark to another by way of an assignment. Therefore, transferring your trademark rights to another is possible.
An assignment is the transfer of a trademark owners rights, title and interest in their trademark or service mark to another. When the trademark owner is transferring their trademark to another, it is important to remember that the goods, services associated with that trademark will also be transferred. The transferring party is known as the ‘assignor’ and the party receiving the trademark rights is referred to as the ‘assignee.’ Assignments must be in writing and recorded with the United States Patent Trademark Office.
A deed of assignment will need to be prepared because it has to be submitted in the assignment application. The following is needed for an effective assignment:
- Heading – Deed of Assignment
- Statement – Agreement to all assign all rights, title, interest together with the goodwill of the mentioned trademark
- Assignors name and principal address
- Assignee name and principal address
- Registration number/serial number
- Name of mark to be assigned
- Registration date if applicable
- Signatures of both parties, with names and dates
To make an effective assignment an application will have to be submitted with the United States Patent Trademark Office online. For the USPTO to process an assignment can take 3 to 4 weeks. Once submitted and processed it will update the records of the new owners of that trademark. Processing the application has a fee of $40 for each assignment application.