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In this video, attorney Eels from Potts Weinstein discusses the formal process for transferring ownership of a trademark. This situation often arises when a business is sold or when an owner transitions from a sole proprietorship or partnership to an LLC or corporation. To transfer ownership, one must file an assignment with the United States Patent and Trademark Office (USPTO). Eels guides viewers to the USPTO website, particularly the 'apply online' section, where necessary forms for this process can be found. Following this procedure ensures that the trademark is legally assigned to the new owner or entity.