Trademark assignment describes the legal process of changing the ownership of a mark to another party during the trademark registration process. There are many reasons for which trademark assignment might occur ranging from added shareholders, changes in business directions to private family or financial matters. There are several governing requirements that must be met during trademark assignment in any case. Trademark assignment most importantly requires the action to be committed under the goodwill of the business. It is also important that trademark assignment be performed in a timely manner with the necessary paperwork and proper legal language.