Assignment of Trade Name
An Assignment of Trade Name is used to transfer a registered trade name from one party to another.
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What Is a Assignment of Trade Name?
If your company does business under another name, you must register that name with the state. For example, you may own ABC Corp, and it is operating a bar called A Big Club, that's the DBA (Doing Business As) name.
Your services or your product is associated with that name, and that is how the clients know you. If you ever want to sell or assign the trade name's rights to another entity, you have to use an Assignment of Trade Name.
What Is an Assignment of Trade Name?
Without a proper assignment, the new owner of the trade name does not officially own the registered DBA's legal rights. If you are selling your company, the Assignment of Trade name is only one of the steps required to complete the transfer.
However, you could be assigning the trade name if you're restructuring the company too. If there is a monetary exchange, the Assignment of Trade Name should reflect that.
Other Names for Assignment of Trade Name
Depending on your state, the Assignment of Trade Name may also be known as:
- Assignment of Assumed Name
- Trade Name Assignment
- Assignment of Registered Trade Name
- Assignment of Fictitious Name
- Assignment of D/B/A
Who Needs an Assignment of Trade Name?
Whenever there is a change in ownership in a trade name, the Assignment of Trade Name is required. Without it, there are no legal grounds for the assignee to stand on. This contract ensures there is no confusion as to the rightful owner of the trade name.
Why Use Swyftfilings for Your Assignment of Trade Name
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Create your own documents by answering our easy-to-understand questionnaires to get exactly what you need out of your Assignment of Trade Name.
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How to Create an Assignment of Trade Name with Swyftfilings
The Assignment of Trade Name is neither complicated nor trivial, just as long as you have the correct details. It is always preferable to not waste time outlining the form and go straight to entering the details, which you can do with a ready-to-go template.
Let Swyftfilings help with our extensive library of attorney-vetted legal forms. The process is fast and easy. All you have to do is fill out our easy-to-understand questionnaire. Once complete, simply download your form as a PDF or Word document from your secure online account.
What Information Will I Need to Create My Assignment of Trade Name?
To create your document, please provide:
- Trade Name: The officially registered trade name on file.
- Assignor: The legal name and contact information of the owner of the trade name.
- Assignee: The legal name and contact information of the entity buying the trade name.
- Registration Number: The registration number of the trade name on the state level.
- State: The state where the trade name was registered.
- Effective Date: The date when the assignment is to go into effect.
- Assignment Details: General explanation, additional clauses, and provisions.
- Signatures: Both parties must sign the assignment form.
Assignment of Trade Name Terms
- Assignment: The legal transfer of a right
- Subcontract: A contract assigning part of the work to somebody else
- Corporation: A popular company structure
- LLC: Limited liability company, another popular company structure
- Logo: A symbol or small artwork identifying a brand
- DBA: Doing Business As
- Fictitious: A nonexistent entity used in legal documentation
- Copyright: The right to an intellectual property
- Sole Proprietorship: The most common business structure in the United States, owned and operated by one person
Assignment of Trade Name Signing Requirements
For the Assignment of Trade Name to be legally binding, both parties need to sign it. Even though notarization is not required by law, many choose to use a notary public as an additional security layer for the signatures.
What to Do with Your Assignment of Trade Name
After both parties sign the Assignment of Trade Name, the assignor would officially assign the trade name to the assignee. They may have to pay a visit to the county clerk and take it from there.
Other Names for Assignment of Trade Name
- Assignment of Trade Name Form
- Assignment of Trade Name Document
- Assignment of Trade Name Agreement
- Assignment of Trade Name Contract
- Assignment of Trade Name Template
- Assignment of Trade Name Checklist
Who Needs a Assignment of Trade Name?
Why Use Swyft Forms for Your Assignment of Trade Name
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