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In this video, attorney Eels explains the process of formally transferring trademark ownership. This is necessary when a trademark needs to be owned by another individual or legal entity, often due to clients selling their business or transitioning from a sole proprietorship/general partnership to an LLC or corporation. To transfer ownership, an assignment must be filed through the United States Patent and Trademark Office (USPTO). Eels advises viewers to visit the USPTO website, navigate to the trademarks section, and access the online application area, where various forms needed for the transfer process can be found.