Virgin Islands Assignment of Service Mark to Accompany Assignment for Sale of Business
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How to fill out Assignment Of Service Mark To Accompany Assignment For Sale Of Business?
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FAQ
Assignment of a trademark means to transfer the owner's right in a trademark to another person. The transferring party is called the assignor, and the receiving party is called the assignee.
Instead, a trademark must be assigned through an Assignment of Rights. That Assignment must transfer not only the trademark and the registration, but must also transfer the goodwill behind the trademark to be valid.
Assigning a registered trade markIdentify the assignor and the assignee (i.e. the business buying the trade mark) State the effective date of the assignment. State the amount of consideration being paid by the assignee. Contain details of the trade mark being assigned.
It applies to all fifty U.S. States as well as any territory under United States jurisdiction and control, including the American Virgin Islands (VI), in American Samoa (AS), Guam (GU) and Puerto Rico (PR). Trademark protection is obtained by registration.
No, a U.S. trademark registration will not protect your trademark in a foreign country. Trademarks are territorial and must be filed in each country where protection is sought.
Trademark assignment agreements provide a record of ownership and function similar to a digital version of a bill of sale. These agreements protect all parties involved including the business selling the trademark and the business buying the trademark.
Typically only the party assigning the intellectual property must sign the assignment, and while notarization is strongly preferred it is not strictly required. Once as assignment has been executed, it should be recorded.
To get started:Create a business plan.Register your trade name and/or corporation with the Office of the Lieutenant Governor.Select a good location and obtain a copy of an unsigned lease or letter of intent from the owner.Obtain a business license from the V.I. Department of Licensing and Consumer Affairs (DLCA)
Your registered trademark will provide the presumption of nationwide validity, which means you'll be protected from potential infringement anywhere throughout the United States. Unfortunately, any trademark disputes that arise outside the U.S. will not be covered by these protections.
Section 39 stipulates that an unregistered trade mark may be assigned or transmitted with or without the goodwill of the business concerned. A request has to be made on Form TM-16 for an unregistered trademark to be assigned or transferred.