Trade Name Assignment is a process used by businesses to register and protect their trade names. It involves creating a unique name that is related to the business and registering it with the appropriate government body. Trade Names are also known as Business Names, Trademarks, Service Marks, and Brand Names. There are two types of Trade Name Assignment: registering a trade name with the state or registering a trade name with the federal government. When registering a trade name with the state, a business must determine if the name they have chosen is already in use or if it is available in their state. Additionally, when registering a trade name with the federal government, a business must file a trademark application with the United States Patent and Trademark Office (USPTO). Both processes are important for businesses to protect their trade name and ensure that they are the only ones using it.
Trade Name Assignment
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FAQ
An intangible asset reported on the balance sheet at the company's cost (or lower). Often, successful trade names were developed by companies over many years. As a result the cost of the trade name is minimal, but the trade names are often the most valuable assets of the company.
For example: X is the proprietor of brand 'ABC'. X assigns his trademark 'ABC' completely through an agreement to Y. After this, X will not have any rights with respect to the brand 'ABC'. The trademark proprietor assigns the trademark to another person with respect to only specific services or goods.
Intangible assets include patents, copyrights, trademarks, trade names, franchise licenses, government licenses, goodwill, and other items that lack physical substance but provide long?term benefits to the company.
A trade name is also called a DBA (doing business as) name. A good example of this is Walmart. Walmart's legal business name is Wal-Mart Inc. but its trade name is just Walmart?that's the name it uses on its advertising and website, and what most people refer to it as.
A trade name is a name under which a person transacts business, other than one's legal name (personal name) or a registered corporate name, general or limited partnership name, limited liability company name or limited liability partnership name.
An intangible asset reported on the balance sheet at the company's cost (or lower). Often, successful trade names were developed by companies over many years. As a result the cost of the trade name is minimal, but the trade names are often the most valuable assets of the company.
A trade name is a name under which a person transacts business, other than one's legal name (personal name) or a registered corporate name, general or limited partnership name, limited liability company name or limited liability partnership name.