{"id":3966,"date":"2021-08-25T17:03:59","date_gmt":"2021-08-25T17:03:59","guid":{"rendered":"https:\/\/omnilegalgroup.com\/blog\/?p=3966"},"modified":"2021-09-24T06:46:30","modified_gmt":"2021-09-24T06:46:30","slug":"avoiding-illegal-trademark-assignment","status":"publish","type":"post","link":"https:\/\/omnilegalgroup.com\/blog\/avoiding-illegal-trademark-assignment\/","title":{"rendered":"Why is it important for a trademark assignment to be handled properly?"},"content":{"rendered":"

\"Trademark<\/p>\n

How to Reduce the Risk of Engaging in an Illegal Trademark Assignment<\/strong><\/h2>\n

Owning a trademark<\/a> is widely viewed as one of the most valuable and important assets for any business. Hence, it is so important not to be cavalier about engaging in a trademark assignment. When a business owner mishandles or violates the law while engaging in a trademark assignment, it could completely negate the enforceability of the trademark, thereby torpedoing its value.<\/p>\n

When an illegal trademark assignment occurs, it is typically the product of carelessness and neglect, or it could very well be deemed an assignment-in-gross.<\/p>\n

What is an Assignment-in-Gross?<\/strong><\/h2>\n

An assignment-in-gross occurs when a business owner assigns their trademark without including the underlying goodwill (i.e. the inherent value and name recognition associated with the mark) and any other accompanying assets. When a business owner commits an assignment-in-gross, the ramifications are severe since a court could invalidate the assignment and would result in the trademark being deemed abandoned. As a result, both parties (i.e. the owner of the mark and party attempting to secure the mark) will lose any rights to the trademark.<\/p>\n

To prevent such circumstances, an assignment must include (i) other related business assets and (ii) must be completed with genuine goodwill.<\/p>\n

Assets that are deemed eligible to accompany a trademark assignment include:<\/p>\n