IGN reports that that the trademark office informed Ubisoft that it had received the request to abandon the trademark from the company's CEO Yves Guillemot. It turns out that Mr. Guillemot never made such a request. Nor did any of his underlings. Or his underlings' underlings. The intern in the mail room has not been ruled out.
Ubisoft tells Joystiq, "We are working directly with the USPTO on reinstating the trademark for Watch Dogs and it will be active again in the coming days. The matter has no impact on the Watch Dogs' development."
Update: Headline revised for clarity.