A trade mark gives the owner an exclusive right to use the registered brand name and/or logo for a period of 10 years, renewable for subsequent 10-year periods without a limit in time. There are countless examples of logos or names that we identify with and have welcomed as part of our daily lives when we look around. Businesses have invested infinite resources into forming a connection with their consumer market and becoming the brand of choice for their buyers. Imagine how you would feel if McDonald’s was promoted by Kernel Saunders or if the purple colour associated with Dairy Milk was instead used on packets of Maltesers – it just makes your head spin, does it not?
So, trade marks are not just boring legal issues. They are there to protect the name or image built through an invaluable effort by businesses to create a brand and a reputation. So, what happens when a business wishes to take over another trade mark? Say, for example, a rapidly growing business wishes to purchase an existing trade mark or a company wishes to transfer ownership to an individual director or subsidiary. Is this possible?
The short answer to this is yes, ownership of a trade mark can indeed be moved from one entity to another. The longer answer, however, is more complicated as such a transfer will involve several legal complications which need to be considered. It is important to think about matters such as:
More to consider than you had thought, right? The complexity of issues like the legal transfer of intellectual property rights usually requires a specialist lawyer to consult throughout the process, plus draft and review documents, contracts and more. After all, you don’t want to get something wrong, or not account for a particular situation, and then run the risk of a costly dispute in the future.
This is an area we specialise in. If you require any help transferring the ownership of intellectual property, such as trade marks, design rights, and copyright, then get in touch with our IP team.
We’ll start with a no obligation chat where we’ll get to know you and understand your current challenges.
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