Jeff wrote me with the following question: I have a catchy name for a product that already exists, but as far as I can tell no one is using this name. If I trademark the name, can I sell the trademark to a company, similar to a web domain?
Jeff, the over simple answer is yes you can try to sell your trademark. However, it's not like cybersquatting. Trademarks are sold as part of the sale of a business. You can't trademark register a name unless you are using it in commerce (or bona fide intent to use) and not just the commerce (business) of selling the name. BTW There are now laws on the books that can deter the business of cybersquatting.
- Domain Names & Trademark Law
- And this interesting WIPO notice Volvo.ws VS Volvo
Trademark creation services do exist - people that make up a great name or logo for a business and then that business owner registers the trademark - for example this one that I found randomly. Don't know if that would work for a one off.
Famous Trademark Sales
The name Coca-Cola is a combination of the names of two ingredients, the coca leaf (from South America) and the kola nut (from Africa). Between 1887 and 1888, the name and formula were sold three times.
Image Courtesy Coca Cola Company
Although your statement that the right to register a trademark must be based upon use in commerce, one can apply for registration based upon a “bona fide intent to use” the mark via an “ITU” application. When the application has completed examination, the applicant is given at least six months to file a “Statement of use” documenting use in commerce. During this period the applicant might “change” its intent to use and transfer or license the application to another, who could then put the mark to use and obtain a registration. Due to the nuances of initial and later changed “intent,” a competent trademark attorney should be consulted.
True and I’ve added that statement
What if your company goes under or another company goes under. Can you re-acquire those rights or sell-off your own?
I like hot to warm taco shells, I would like to invent tongs that shape and hold taco shells in place while you deep fry them in oil. If there is one out there, prior to this comment, someone let me know! Sincerely A. Russell from San Carlos, Arizona. 928-475-2470.
Q……If you take a balloon and blow it up and make something else out of it, such as an animal or structure, can you use the name, for example, “Twisty Balloon” and patent it? Appreciate your answer!!……Thanks
As far as selling a catchy names goes – here’s some strategies Let me know if you think you can use it.
Strategy #1
1) Create the name.
2) Create a super cheap knock-off, of the product you want to apply it to – this gives you a legal right to keep the name.
3) Then, go try and sell the name. If someone is interested in your name, you’ll have some options available.
4) In any contract that is drawn up – make mention that you’ll liquidate your “company” upon purchase of the name (if that applies), or that you’re selling off the rights to your product along with the name, or that you’ll simply get a new name. Once your catchy name has been sold.
5) Collect your money and drop your cheap knock off product.
Strategy #2 (similar)
1) Create your catchy name.
2) Apply it to some cheap easy to make invention (a paper bookmark or what not)
3) (steps 3-5 from above)
NOTE: This is obviously an over-simplified plan, and the steps may even be out of order. But it’s meant to help you brainstorm of ways to allow you to legally hold on to your cathy name while you’re out there selling it.
I’m an amatuer inventor, so if I’m way off, please let me know – without being crazy demeaning about it
The article is thought invoking. job properly done i have to admit.
Jesse was right on it.
When you come up with a great product name first try and get the .com. If you can get the .com then I would say completely peruse the idea. Next I would register the Trademark with the uspto.gov And just file saying you use it in commerce. I don’t think “they” can ever find out you are not using it. (You are just selling it to friends, neighbors, and family) Next you want to design the product And send it to prospective companies. If i were you and you love inventing i would buy a cheap macbook pro with cs5 and learn photoshop. it is so much fun and extremely professional and fullfilling.
Always first sign A non disclosure agreement with the company. Never tell companies what your idea is via the phone. Once the company is interested, either license the
TM for royalties to them or sell it to them. Also a good idea is when you get the .com just design a simple website and put a TM symbol by the product name and it is legally yours. The hard part is selling the TM knowing you never actually were selling it and building an image. If the name is good enough it will sell. I have a couple companies very interested in my product. We will see what they want to do. Always act like you are selling the product to family and friends. That way they can’t say you have already presented the product to the market a certain way, and they can’t say that you have not had the trademark in commerce. Win win.
Amature Inventor – 2 years of work about to pay off soon.
Really enlightening….looking onward to coming back.
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I would like to sell a trademark. Do you have any suggestions for me how to market it effectively?
I’m amazed, I must say. Rarely do I encounter a blog that’s both educative and interesting, and let me tell you, you have hit the nail on the head.
The issue is something that too few people are speaking intelligently
about. I am very happy that I stumbled across this in my search for something relating to this.
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I have a trademark and business brand that someone is interested in purchasing from me. Do you have any recommendations on companies or places I can go to get assistance with something like this? Thank you!