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In this video, attorney Eels from Potts Weinstein discusses the process of formally transferring trademark ownership. This is necessary when a business is sold or when a sole proprietorship or general partnership evolves into an LLC or corporation. To transfer ownership, one must file an assignment through the United States Patent and Trademark Office (USPTO). Viewers are guided to visit the USPTO website, navigate to the trademarks section, and use the apply online area to access the required forms for the assignment. The video emphasizes the importance of this formal process for ensuring legal ownership of trademarks.