A trade name, also known as a business name, is the name which a business trades under for commercial purposes, although its registered, legal name, used for contracts and other formal situations, may be another. A logo is name, symbol, or trademark designed for easy and definite recognition, sometimes used, as in this case, for easy and definite recognition of a business or service. A licensor may grant a license under intellectual property laws authorizing the use by another party of a logo, trade name, trade mark or service mark.
Minnesota License of Trade Name and Trademark with Option to Purchase
State:
Multi-State
Control #:
US-01926BG
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Word
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How to fill out License Of Trade Name And Trademark With Option To Purchase?
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FAQ
Assignment of a trademark is a transfer in the ownership of the trademark registration. Whereas in licensing, the ownership and proprietary rights of the trademark continue to remain with the original owner, but only a few restricted rights to use the brand are given to the third party.
Whoever buys such trademark has wasted his or her money. An individual can buy a trademark without the goodwill that is associated with the business. This concept is regarded as naked assignment in the United States, as the assignment is recorded without the transfer of the business' goodwill.
Once you confirm the availability of your business name and secure it, you can choose to apply for a trademark for your business. This typically costs around $225 to $400 plus any attorney fees as well as a renewal fee every 10 years.
Question: Can you purchase a trademark? Yes, you can purchase a trademark from another person or entity. Trademarks are a form of intangible property that can be sold and bought, just like real estate.
The short answer is that you can use a trademark belonging to another person or company if you use the mark for: informational or editorial purposes to identify specific products and services, or. if your use is part of an accurate comparative product statement.
Trademarks are considered intellectual property and just like any other property, intellectual property can be licensed, bought, sold, inherited, or otherwise transferred through legal transactions.
How to register your trademark or service mark: Trademark Application pdf form can be found here.Submit one specimen or facsimile of the mark as you have actually used it in commerce.State the words or phrase to be registered, if any.Provide a written description of the logo design to be registered, if any.More items...
Registering a trademark helps protect a name or brand from intellectual property theft or misuse as a business grows. You can start the trademarking process on the U.S. Patent and Trademark Office's website. The application can be completed fairly quickly, but the entire process may take several months.
The basic cost to trademark a business name ranges from $225 to $600 per trademark class. This is the cost to submit your trademark application to the USPTO. The easiest and least expensive way to register your trademark is online, through the USPTO's Trademark Electronic Application System (TEAS).