Have Legal Questions? Ask a Lawyer Now.
Good morning. Typically, a sale of a business in structured as a sale of assets of the business rather than a sale of the ownership interest itself so that the purchaser doesn't buy any unknown liabilities. When negotiating the Purchase Agreement, a seller in this situation will want to specifically exclude the trademarked name involved. This may be a critical element of the value of the business and may not be acceptable to the purchaser, but as long as the purchaser is willing to buy the business without the name, as long as the Purchase Agreement and conveyance documents to consummate the purchase exclude the trademarked name, then the seller retains that name.
I hope this has given youinformation that has been helpful to you. If the information seems more generalthan specific, please be aware that we are only allowed to provide informationand not specific advice. If you have a follow-up question, pleaseremember that there might be a delay between your follow up questions and myanswers because I may be helping others or taking a break. If you need additional clarification on this question, please do nothesitate to click Reply and I will be happy to do what I can to help youfurther. Thanks for allowing me to be of service to you. Please be aware thatthe information provided here is not legal advice. Rather it is simply generalinformation. All states have intricacies in their laws andany information given is simply information only and specifically is notintended to be, nor does it constitute, legal advice. This communication doesnot establish an attorney-client relationship with you. I hope this answer has been helpful to you.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).