ASSIGNMENT

Transfer of a property right or title to some particular person under an agreement, usually in writing. For example, the payee may assign his or her rights to collect the note payments to a bank.

The owner of a trademark/mark may transfer, give or sell to another person the owner's interest in the trademark/mark. This type of agreement/gift is called an assignment, and the person who receives the owner's interest is called an assignee. An assignee has the right to exclude others from using the trademark/mark. To be enforceable, the assignment must be in writing and signed. It must also include the goodwill of the business connected with the mark.

Contracts. In common parlance this word signifies the transfer of all kinds of property, real, personal, and mixed, and whether the same be in possession or in action; as, a general assignment. In a more technical sense it Is usually applied to the transfer of a term for years; but it is more properly used to signify a transfer of some particular estate or interest in lands.

The proper technical words of an assignment are, assign, transfer, and set over; but the words grant, bargain, and sell, or any other words which will show the intent of the parties to make a complete transfer, will amount to an assignment.

A chose in action cannot be assigned at law, though it may be done in equity; but the assignee takes it subject to all the equity to which it was liable in the hands of the original party.

The deed by which an assignment is madeis also called an assignment.

By an assignment of a right all the accessories which belong to it, will pass with it as, if the assignor of a bond had collateral security, or a lien on property, the collateral security and the lien will pass with the assignment of the bond. The assignment of a thing also carries with it all that belongs to it by right of accession; if, therefore, the thing produce interest or rent, the interest or the arrearages of the rent since the assignment, will belong to the assignee.
   

This entry contains material from Bouvier's Legal Dictionary, a work published in the 1850's.