This Deed of Assignment is used whenever one person, or a company, wants to sell and/or transfer some or all of the intellectual property rights in a Trade Mark to another person or company. Assignments effectively change the ownership of the intellectual property rights assigned, leaving the original owner with no further rights.
An assignment is used to confirm a transfer of ownership. If the Trade Marks in question have previously been paid for the rights are sold for £1 to ensure that the assignment is legal. Where they are being sold for a price the value should be inserted. Careful thought should be given to the value of the intellectual property rights in a design whenever the rights are being sold for their full value in an 'arm's length transaction' (such as on the sale of a business), rather than for a nominal amount.
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