Night of the Living Dead Patent and Trademark

Fatal mistakes are often made when people unfamiliar with patent and trademark law leave that kind of intellectual property to people in their will or when they inherit it.

At the Mountains of Madness: A Vague Will.

“’All patents,” “all trademarks,” or “all intellectual property” owned by me may sound like a great clause to have in a will. It’s better than nothing, yes, and fine as a catch-all in case you don’t update your documents in time with more detailed information, but it really can leave a maddening mess for the executor or trustee of your estate. The way to keep them from cursing your name is to specify by registration number exactly which patents and trademarks are involved. That’s because the USPTO, the agency that registers patents and trademarks in the US, as well as international agencies that handle international patents and trademarks, require documentation to officially transfer the ownership rights to the registrations. That’s MUCH easier to handle if specific registration numbers are in the will or trust.

Creature from the USPTO: Official Assignments

Speaking of those documents transferring ownership that need to be registered with the USPTO and perhaps international agencies, those are documents most people aren’t aware need to be filed. Even some estate administration lawyers who don’t have much experience with intellectual property can be unaware of this requirement.

Official assignments of ownership must be filed with the USPTO and any international agencies that apply in order for ownership of the patent or trademark registrations to fully transfer to the new owner. Without that official transfer, it can be hard to enforce the rights that come with the registration.

This doesn’t just matter when your estate is being administered. It matters while you’re alive as well. If you put your patent or trademark registration in a trust, you need to record an assignment of ownership. If you sell or transfer your ownership to your business, you need to record an assignment of ownership then, too. As I mentioned before, the more specific the assignment is regarding identifying the intellectual property, preferably with registration numbers and other identifying information, the easier the assignment will be to prove and enforce.

Specificity and proper recording of transfer documents are the silver bullets to stop the monster of probate horror when it comes to registered intellectual property.