Legal Question in Business Law in New Jersey

Figuring out the proper course of action would depend on a review of the sale agreement, to see if the sale was an asset sale or a stock sale and if an asset sale what assets were sold exactly. In addition, a review of the operations of the your father's company after the sale would have to be made to see if the name continued to be used. Finally, a review of the corporate actions of the buyer would have to be undertaken to see if they took steps to adopt and accommodate the name of the selling company (as well as other marks).

Even if the name was sold, you may still have some options of operating under your desired name in a different town.

Please contact my office for help in this matter..

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

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This is odd. You mean to say that this asset sale took place and there was never any mention about the use of the business name? I find that very hard to believe. You would think at least one side would bring it up.

That said, the name is an asset; it is the company trademark. If it was not negotiated in the transaction or sale of assets, then it is still attached and continues with the continuing company. But trademarks exist only if they are being used. If you have stopped use for a meaningful period of time (2-3 years) it may be considered abandoned, so I would move now to deal with this properly.

You need to deal with this ASAP and the first order of business will be to conduct a proper analysis and review of any written agreements. Please consult a lawyer in private and flesh it all out.

If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.

Kind regards,

Frank

www.LanternLegal.com

866-871-8655

[email protected]

DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.

I concur that a review of the sales agreement is required before any reasonable response can be given, to determine exactly what was sold, the rights of the parties to use the business name, what happened regarding accounts receivable and other matters you raised. Also, what may have been said about the Seller's continuing the business, even at a new location. These matters should have been specifically covered by the contract.

This is a response to an Internet question and the reply is for informational purposes only and is not intended to be legal adevice or as creating an attorney-client relationship.