Question
I have a company that I plan to dissolve. The company owns a simple trademark for the company name. Two members have stated that they want to "retain" the trademark after the company dissolves. [for possible unknown future use]. I have control, so I can choose to do whatever I like with the asset. Should I simply auction it off before dissolution and let the person with the biggest wallet win? Or is there a better approach to handling the asset.
Answers: 1 public & 0 private
If you can, it would probably be more beneficial for you to auction the TM before you dissolve and try to obtain the best price based upon the reputation and goodwill that the TM has accumulated over the years. TMs are based upon usage, so technically, after the company dissolves, and the TM is no longer in use, a third party can file a cancellation proceeding to cancel the mark for non-use - hence, again, it is better to obtain what money you can now if in fact you can do that and attract a buyer who will in fact want to retain the mark and trade upon its reputation and goodwill.
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