A company’s trademarks and intellectual property are arguably the company’s most important assets. Why do people purchase NIKE shoes? Because of the goodwill associated with the brand name “NIKE” – the Shoe is secondary to the name. Marketing professionals have known this for centuries and you can bet that any company interested in buying the NIKE Corporation would want to ensure that such a sale would include the rights to the trademark, NIKE.
On the most fundamental level, a trademark assignment is simply the situation under which an existing trademark holder transfers the rights to the trademark to another individual/entity. Specifically, the original trademark owner transfers, sells, or assigns his rights to the trademark to a new party and it is incumbent on the new party to register this change of ownership with the USPTO. For those more technically inclined, according to the Trademark Federal Statutes and Rules (TFSR), an “Assignment means a transfer by a party of all or part of its right, title and interest in a patent, patent application, registered mark or a mark for which an application to register has been filed.”