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Assignment of Trade Name

An Assignment of Trade Name is used to transfer a registered trade name from one party to another.

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How it works.

If your company does business under another name, you must register that name with the state. For example, you may own ABC Corp, and it is operating a bar called A Big Club, that's the DBA (Doing Business As) name.

Your services or your product is associated with that name, and that is how the clients know you. If you ever want to sell or assign the trade name's rights to another entity, you have to use an Assignment of Trade Name.

What Is an Assignment of Trade Name?

Without a proper assignment, the new owner of the trade name does not officially own the registered DBA's legal rights. If you are selling your company, the Assignment of Trade name is only one of the steps required to complete the transfer.

However, you could be assigning the trade name if you're restructuring the company too. If there is a monetary exchange, the Assignment of Trade Name should reflect that.

Other Names for Assignment of Trade Name

Depending on your state, the Assignment of Trade Name may also be known as:

• Assignment of Assumed Name
• Trade Name Assignment
• Assignment of Registered Trade Name
• Assignment of Fictitious Name
• Assignment of D/B/A

Who Needs an Assignment of Trade Name?

Whenever there is a change in ownership in a trade name, the Assignment of Trade Name is required. Without it, there are no legal grounds for the assignee to stand on. This contract ensures there is no confusion as to the rightful owner of the trade name.

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Create your own documents by answering our easy-to-understand questionnaires to get exactly what you need out of your Assignment of Trade Name.

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How to Create an Assignment of Trade Name with 360 Legal Forms

The Assignment of Trade Name is neither complicated nor trivial, just as long as you have the correct details. It is always preferable to not waste time outlining the form and go straight to entering the details, which you can do with a ready-to-go template.

Let 360 Legal Forms help with our extensive library of attorney-vetted legal forms. The process is fast and easy. All you have to do is fill out our easy-to-understand questionnaire. Once complete, simply download your form as a PDF or Word document from your secure online account.

What Information Will I Need to Create My Assignment of Trade Name?

To create your document, please provide:

• Trade Name : The officially registered trade name on file.
• Assignor : The legal name and contact information of the owner of the trade name.
• Assignee : The legal name and contact information of the entity buying the trade name.
• Registration Number : The registration number of the trade name on the state level.
• State: The state where the trade name was registered.
• Effective Date : The date when the assignment is to go into effect.
• Assignment Details : General explanation, additional clauses, and provisions.
• Signatures: Both parties must sign the assignment form.

Assignment of Trade Name Terms

• Assignment : The legal transfer of a right
• Subcontract : A contract assigning part of the work to somebody else
• Corporation : A popular company structure
• LLC : Limited liability company, another popular company structure
• Logo : A symbol or small artwork identifying a brand
• DBA: Doing Business As
• Fictitious : A nonexistent entity used in legal documentation
• Copyright : The right to an intellectual property
• Sole Proprietorship : The most common business structure in the United States, owned and operated by one person

Assignment of Trade Name Signing Requirements

For the Assignment of Trade Name to be legally binding, both parties need to sign it. Even though notarization is not required by law, many choose to use a notary public as an additional security layer for the signatures.

What to Do with Your Assignment of Trade Name

After both parties sign the Assignment of Trade Name, the assignor would officially assign the trade name to the assignee. They may have to pay a visit to the county clerk and take it from there.

Frequently Asked Questions

A Trade Name is what a company or person officially uses to do business. It is the first step in building a brand, but it has also certain limits in use. On the other hand, a trademark is officially registered with the trademark office. Trade names and trademarks are registered separately. Furthermore, a trademark requires federal registration.

Although these are much more alike than the trade name, a brand name has yet to be trademarked. So, if you want your brand name to be protected, you will have to register it as a trademark.

After you have established a company, if you want to use a different name you can go to the county recorder’s office and ask for a registration form. You may have to pay a registration fee that varies by jurisdiction. Keep in mind that filing for a trade name is all there is - you still have to get all relevant permits and licenses.

Both trade names and trademarks require occasional renewal. For a trade name, this might be different depending on the state. You might want to inquire about it when you file for the name about if and when you would have to renew it. Since a trademark requires registration at the federal level, it is fairly well-known that you have to renew every ten years. You can even renew it earlier and it comes with a six-month grace period after the expiration.

As a sole proprietor, you will still have to register your trade name if you are doing business under that name. That is if you do not want someone to steal your name after you have made it famous. To be on the safe side, it is best to check with your county’s office about the instructions. Additionally, you can hire an attorney to help you sort out the paperwork.

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Assignment Of Trade (AOT): Meaning, Example, Criticism

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle.

What Is Assignment of Trade (AOT)?

Assignment of trade (AOT) is a transaction used primarily in the  mortgage-backed securities (MBSs)   to be announced (TBA) market, where the obligation to fulfill an existing forward trade is assigned by one of the  counterparties  to a third party .

AOTs are frequently used to avoid having to make delivery of securities into, or receive delivery of securities from, a TBA trade—a contract to purchase or sell an MBS, a bond that is secured by mortgage loans , on a specific date.

Key Takeaways

• Assignment of trade (AOT) is a three-party agreement that facilitates the sale of a mortgage-backed security (MBS) pool of loans.
• The mortgage originator sells an MBS to a dealer for future delivery, creating a hedge against some of the risks that come with the loans it has issued. 
• The third-party assignee is willing to take on the loans immediately, collecting the income streams from them, and then delivering the MBS to the dealer and fulfilling the responsibilities of the assignor.

How Assignment of Trade (AOT) Works

AOT is basically a three-party agreement between an assignor (usually the originator of the underlying mortgages), an assignee (the investor ), and a dealer or broker . The assignor is eager to move the mortgages off the books to remove the threat of factors such as interest rate risk , prepayment risk , and  default risk . 

The assignor wants this risk gone sooner rather than later, so a hedge is sold in the form of an MBS on the TBA market. However, the MBS still has to be delivered and the AOT can be the most cost-effective way of making that happen.

Mortgage originators use AOT to facilitate the pricing and purchase of whole loans by the third party to which the TBA trade is assigned, with the agreement that the third party will then make delivery of an MBS into the original TBA trade, which was taken out by the mortgage originator as a hedge.

In other words, an AOT allows a mortgage originator to unwind its hedge position by assigning it to the third party and simultaneously agreeing to sell an equal amount of loans to that third party. The price at which the whole loans are sold to the third party is established by the price of the trade being assigned.

Example of Assignment of Trade (AOT)

The assignor sells an MBS to the dealer for future delivery, creating a hedge against some of the risks that come with the loans it has issued. At this point, the dealer is waiting for the pooled security, and the assignor is obligated to deliver it. 

Enter the third-party assignee who is willing to take on the loans immediately, collecting the income streams from them, and then delivering the MBS to the dealer and fulfilling the responsibilities of the assignor. The assignee now holds the loans, and the dealer has the MBS that the underlying loans feed into.

The assignee faces default risks but can still benefit from interest rate shifts that increase the profits from variable loans. The dealer holds the MBS and the prepayment risks that come with them as well as the agreed-upon streams of interest and principal . Meanwhile, the assignor, as the loan originator, has new space on the books to issue new loans.

This approach can reduce some of the expenses that might otherwise come in the form of fees,  buybacks , and transfers.

Criticism of Assignment of Trade (AOT)

Though assignment of trade (AOT) comes with many benefits, it is not always straightforward to execute properly. Critics point out that transactions commonly consist of inputting lots of crucial information from different sources into stacks of paperwork, a labor-intensive process sometimes prone to error, and sending emails that are not always guaranteed to reach all participants.

Some industry figures have been calling for a more standardized process to be introduced, such as a single electronic platform for trade assignments, in order to make it easier for information to be tracked, logged, and archived. 

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• SOAP Web Services for Sales and Fusion Service

Trading Community Party Usage Assignment Service

A framework to assign party usages to trading community members. For example, John Doe is assigned a usage to indicate he is a sales account contact and ABC Corporation is assigned a usage to indicate that it is a supplier. This service is deprecated and is replaced with New Service PartyInformationService. Internal Name oracle.apps.cdm.foundation.parties.partyService.PartyInformationService.

Life Cycle Status: Deprecated. This service is deprecated and replaced by .

QName: {http://xmlns.oracle.com/apps/cdm/foundation/parties/partyService/applicationModule/}PartyInfoService

Service WSDL URL: https://servername/crmService/PartyInfoService?WSDL

Logical Business Objects

CRM : Trading Community Model : Trading Community Group

Relationships

The following table describes how this service data object is related to other service data objects or business object services.

assignPartyUsage

Endpartyusageassignment, findpartyusageassignment, findpartyusageassignmentgetusageassignmentbypartyidcodedate, findpartyusageassignmentpartyusageassgnonewaysyncvocriteria, findpartyusageassignmentpartyusageassignroleprovvocriteria, getdfltobjattrhints, getservicelastupdatetime, getentitylist.

The Create operation for the trading community party usage assignment SDO.

Life Cycle Status: Active

Request Payload

Response Payload

The Update operation for the trading community party usage assignment SDO.

The Find operation for the trading community party usage assignment SDO.

The Find operation for the party usage assigned to a trading community organization or trading community person.

Verifies if the party is an external contact.

Verifies if the party is an employee or contingent worker for a given date.

An operation to retrieve user interface hints, such as the service data object label and object attribute labels, for the specified service data object and locale. As a prerequisite, invoke the getEntityList operation defined on this service to get the list of possible values for the viewName request payload element.

An operation that returns the date and time when the schema files referenced in the service definition last changed.

An operation to get the list of service data objects defined for this service.

The following tables list the privileges required to perform the service operations, and the duty roles that each privilege is granted to.

Service Operations to Privileges Mapping

Privileges to Duty Roles Mapping

Duty Roles to Duty or Job Roles Mapping