Home Forums Money matters Selling trademarked business name

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  • #999581
    Rowan@quaotic
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    • Total posts: 712

    Due to the land I lease being sold I am going to close my business as I don’t have the money or heart to start over, don’t worry I have another venture I am thinking of starting.

    Anyway, my business name will no longer suit my new business and although I find that I can sell my trademarked business name with my URL, I can’t find out if it is actually worth it to sell, how to find out if I want to bother etc.
    I know there is someone on here that answers trademark questions but I can’t remember who and if they might be able to give me some direction to find out the answers to my questions. Can someone tag this person for me please.

    #1220371
    bb1
    Participant
    • Total posts: 4,472

    I think [USER=20176]@JacquiPryor[/USER] will be the one

    Thats sad Rowan

    #1220372
    Rowan@quaotic
    Participant
    • Total posts: 712

    Thanks Bert.
    It isn’t so sad. After a couple of really bad years with heat waves and cockatoos ruining my crops it is time to cut my losses and move on. I have a great reputation for my vegetable breeding work which will be hard to let go, but I will be going on with some potato breeding, just on a tiny scale for now, but it will be nice to be able to cut down on the work.

    #1220373
    JacquiPryor
    Member
    • Total posts: 2,344

    Hi Rowan,

    Sorry to hear that – but glad to hear you have something else planned.

    Can you sell a trade mark – yes. Can it be worth it, sure. First step would be to make sure your trade mark is all in order to ensure it’s ‘valid’ to be sold to someone else so that they ultimately end up also then with a valid right. If you want to shoot me an email to jacqui@mmwtrademarks.com.au I can look into that further for you if it helps.

    The problem can be actually finding a buyer. There are a few online marketplaces in other countries that list trade marks available for sale and will list Australian trade marks there. I am not hugely familiar with them, but it could be an option to look at that doesn’t take a lot of effort.

    Using your own tools can be a cost effective way of at least putting it out there.. it could be a heading at your website that advises the brand may be available to sale. Depending on your full plans, if you’re open to selling the whole business rather than just URL/trade mark an accountant and business broker could assist.

    Another way we (sometimes) try and determine possible purchasers is to actually search on the Trademarks Database for anyone that’s tried registering the same/similar since you registered your trademark for similar goods or services, who perhaps were not able to register because your brand blocked them. If such luck in those searches, you might be able to contact the later applicant to see if they’re still interested in that sort of a name and see if they’d discuss purchasing etc.

    Trust the above helps? Feel free to send me an email and happy to review further/let you know thoughts etc.

    #1220374
    Rowan@quaotic
    Participant
    • Total posts: 712

    Thanks Jacqui for that info. I will have a think and may get in touch.

    #1220375
    Precise Tax Solutions
    Member
    • Total posts: 172

    Don’t forget, there could be tax implications on the sale, depending on how it’s structured

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