Are you thinking of selling your business to a prospective purchaser? One of the things that you have to think about when doing so is to account for all of your assets and your liabilities.
But what about intangible assets, such as your trade marks? How can you account for that? Prospective purchasers will surely ask questions such as:
- Does this business really own the mark?
- How long has it been used for?
- Are there any competitors in the same market that use a similar mark?
- If I purchase the business and its good will, will I be forced to abandon the mark in the future?
Fortunately a registered trade mark is the easiest way to conclusively show that you own the trade mark and your interest is noted on the trade mark.
The transfer of the registered trade mark is also simple – all that is required is for the purchaser to provide to the relevant government authority, IP Australia, a copy of the document that assigns the trade mark to the purchaser, as well as completing some other forms.
A registered trade mark can increase the value of the sale of your business, as well as provide to your prospective purchasers peace of mind.