In a precedential decision issued last week, the Trademark Trial and Appeal Board (TTAB) cancelled a registration because it was based on an intent-to-use (ITU) application that had been the subject of an intra-corporate assignment prior to the filing of the allegation of use. Because the assignee was not the successor to the assignor’s entire “ongoing and existing business,” the assignment violated Section 10 of the Lanham Act, rendering the resulting registration invalid. This decision is likely to have significant impact not only on future transactions but also on existing trademark portfolios.