Trademarks are intellectual property that, like all other types of tangible and intangible property, may be sold. Their ownership, as well as the items they individually represent, can be transferred.
Trademarks in the UAE are registered and enforced with the UAE Ministry of Economy or MOE, where the trademark owners are also listed. There are a few aspects of a business that can be registered with the MOE. Trademarks can also be sold separately or in conjunction with the acquisition of a business.
Should you buy or sell a Trademark in UAE?
Trademarks registered in the UAE serve as the identity, brand, or soul of businesses that take years to create. The choice to sell or acquire a trademark carries the weight of the brand’s identity with it. If you transfer trademark rights to an individual or another corporate organization, you will forfeit your whole right. Licensing, on the other hand, gives someone else the right to use a trademark.
Be aware of dead trademarks that are not identified by the MOE. When a trademark is declared dead, firms and individuals can claim it and use it for their own commercial reasons. Original trademark owners have no rights to deceased trademarks. They will also be unable to utilize or seek protection for them, much alone sell them, if they have previously been claimed by another company or person.
Steps to Sell Your UAE Trademark
1 – Identify your potential buyer
Prioritize identifying potential buyers first. Among the many potential purchasers are your key competitors, your company’s personnel, and other parties interested in joining the market and earning a competitive advantage. Each of the parties may be interested in selling the goods protected by your trademark. The sale of your trademark in the UAE might involve the physical assets of the firm, such as equipment, machinery, inventory, and cash. The transfer of ownership of trademarks registered with the UAE Ministry of Economy necessitates documented evidence.
Remember to obtain the advice of legal counsel when creating any legal document. Furthermore, the selling documents must be seen and certified by a public notary in Dubai.
2 – Find your potential buyers
If you can’t find a suitable buyer among your competitors or workers, finding a buyer for your trademark will be challenging. If you’ve been looking for a buyer for months and haven’t found one, you might try an auction site or a trademark exchange. Just make sure you have all the documentation proving your ownership of a trademark. You can provide information such as a description and sample of the mark, as well as your asking price. If someone is interested in purchasing your trademark, be sure to provide the interested party with your contact information.
3 – Create a Trademark Assignment Agreement
In the UAE, a trademark assignment agreement is required. All parties concerned must sign the agreement in front of a public notary in Dubai, UAE. You should double-check all of the data related to the trademark ownership sale, including the buyer’s name, contact information, address, and any other pertinent information.
The agreement should also explicitly state the facts of the transaction, such as any transfer costs, who will pay the transfer fees, who is responsible for the renewal of trademark rights, and the selling price, among other things. The trademark assignment agreement in UAE must not only be certified by a renowned notary public in Dubai, but it must also be confirmed with the notary in terms of the signatories’ identities.
If a partnership owns the trademark rights, more than one signature will be necessary for the trademark sale. You can seek advice from a public notary in Dubai on the rules and norms governing the legalization of a trademark assignment agreement. This stage is critical to ensuring that the sale is lawful and valid in the eyes of the law.
Legalization of a Trademark Sale in UAE
Selling a trademark in the UAE can be viewed as a loss of a precious and profitable identity of a firm that has taken years to develop. However, there are advantages to selling a trademark, the most important of which is a large profit! When you finally decide to sell your trademark in the UAE, follow the procedures we discussed previously to guarantee the sale of one of your most important company assets is legal.
Why to appoint Trademark agent in UAE
Registering a trademark in the UAE requires extensive knowledge of the Trademark laws in the UAE and knowledge of the Nice classification List to select the right trademark class under which trademark falls to satisfy and protect trademark applicant needs.
Trademark applicant should be engaged in application procedure established by the UAE Ministry of Economy to register the trademark successfully and to deal with all documents related to trademark registration and notifications to competent authorities.
Furthermore, in addition to detailed knowledge of the law, the applicant needs to know Arabic because when filling initial trademark application, the form must be completed in English and Arabic, also the brand logo and trademark meaning should be approached bilingually. Properly filling application is time and cost-effective condition to be followed by applicant. Appointing the trademark agent in UAE has other benefits for not only help businesses to register their trademarks in the UAE but also advise businesses on how to protect brand from their competitors and counterfeit products in the UAE market.
The role of trademark agents in registering the trademarks is necessary as in the UAE is mandatory for foreign businesses to appoint a trademark agent. perhaps one of the most important items in the protection of his brand that the applicant cannot do alone because he is not sufficiently informed and thus risks missing the complaint process against a third party, is the trademark monitoring done by only experienced trademark agents.
To appoint trademark agent in UAE visit bact.ae
To book free consultation with us, visit: https://bact.ae/free-consultation/
To request trademark registration or other trademark services visit https://bact.ae/our-services/trademark/trademark-registration/
Our trademark services
√ Trademark Search
√ Trademark Monitoring
√ Trademark Registration
√ Trademark International Registration
√ Trademark Renewal
√ Trademark Cancellation
√ Trademark Mortgage
√ Trademark Modification
√ Trademark Agent Change
√ Trademark Ownership Transition
√ Trademark Ownership Modification
√ Trademark Logo Modification
√ Trademark Products Modification
√ Trademark Objection & Grievance
√ Trademark Document Services
For more information about international trademark services please visit bact.ae