diff --git a/README.md b/README.md
index 598347dd6..6a9274583 100644
--- a/README.md
+++ b/README.md
@@ -64,7 +64,7 @@ Sets the address of the creator of the contract as the owner.
 #### modifier onlyOwner( )
 Prevents function from running if it is called by anyone other than the owner.
 
-#### transfer(address newOwner) onlyOwner
+#### transferOwnership(address newOwner) onlyOwner
 Transfers ownership of the contract to the passed address.
 
 ---
@@ -97,7 +97,7 @@ ___
 ### Claimable
 Extension for the Ownable contract, where the ownership needs to be claimed
 
-#### transfer(address newOwner) onlyOwner
+#### transferOwnership(address newOwner) onlyOwner
 Sets the passed address as the pending owner.
 
 #### modifier onlyPendingOwner
diff --git a/contracts/Claimable.sol b/contracts/Claimable.sol
index d51d34f01..e7490e05d 100644
--- a/contracts/Claimable.sol
+++ b/contracts/Claimable.sol
@@ -7,8 +7,8 @@ import './Ownable.sol';
 
 /*
  * Claimable
- * 
- * Extension for the Ownable contract, where the ownership needs to be claimed. This allows the new owner to accept the transfer. 
+ *
+ * Extension for the Ownable contract, where the ownership needs to be claimed. This allows the new owner to accept the transfer.
  */
 contract Claimable is Ownable {
   address public pendingOwner;
@@ -18,7 +18,7 @@ contract Claimable is Ownable {
       _;
   }
 
-  function transfer(address newOwner) onlyOwner {
+  function transferOwnership(address newOwner) onlyOwner {
     pendingOwner = newOwner;
   }
 
diff --git a/contracts/Ownable.sol b/contracts/Ownable.sol
index 40fc08146..705f081bc 100644
--- a/contracts/Ownable.sol
+++ b/contracts/Ownable.sol
@@ -14,12 +14,12 @@ contract Ownable {
     owner = msg.sender;
   }
 
-  modifier onlyOwner() { 
+  modifier onlyOwner() {
     if (msg.sender == owner)
       _;
   }
 
-  function transfer(address newOwner) onlyOwner {
+  function transferOwnership(address newOwner) onlyOwner {
     if (newOwner != address(0)) owner = newOwner;
   }
 
diff --git a/test/Claimable.js b/test/Claimable.js
index b30b31d2d..ae3acc5cc 100644
--- a/test/Claimable.js
+++ b/test/Claimable.js
@@ -12,7 +12,7 @@ contract('Claimable', function(accounts) {
 
   it("changes pendingOwner after transfer", async function() {
     let newOwner = accounts[1];
-    let transfer = await claimable.transfer(newOwner);
+    let transfer = await claimable.transferOwnership(newOwner);
     let pendingOwner = await claimable.pendingOwner();
 
     assert.isTrue(pendingOwner === newOwner);
@@ -21,12 +21,12 @@ contract('Claimable', function(accounts) {
   it("should prevent to claimOwnership from no pendingOwner", async function() {
     let claimedOwner = await claimable.claimOwnership({from: accounts[2]});
     let owner = await claimable.owner();
-    
+
     assert.isTrue(owner != accounts[2]);
   });
 
   it("should prevent non-owners from transfering", async function() {
-    let transfer = await claimable.transfer(accounts[2], {from: accounts[2]});
+    let transfer = await claimable.transferOwnership(accounts[2], {from: accounts[2]});
     let pendingOwner = await claimable.pendingOwner();
 
     assert.isFalse(pendingOwner === accounts[2]);
@@ -37,7 +37,7 @@ contract('Claimable', function(accounts) {
 
     beforeEach(async function () {
       newOwner = accounts[1];
-      await claimable.transfer(newOwner);
+      await claimable.transferOwnership(newOwner);
     });
 
     it("changes allow pending owner to claim ownership", async function() {
diff --git a/test/Ownable.js b/test/Ownable.js
index abf8a9272..24a2d239c 100644
--- a/test/Ownable.js
+++ b/test/Ownable.js
@@ -12,7 +12,7 @@ contract('Ownable', function(accounts) {
 
   it("changes owner after transfer", async function() {
     let other = accounts[1];
-    let transfer = await ownable.transfer(other);
+    let transfer = await ownable.transferOwnership(other);
     let owner = await ownable.owner();
 
     assert.isTrue(owner === other);
@@ -20,7 +20,7 @@ contract('Ownable', function(accounts) {
 
   it("should prevent non-owners from transfering", async function() {
     let other = accounts[2];
-    let transfer = await ownable.transfer(other, {from: accounts[2]});
+    let transfer = await ownable.transferOwnership(other, {from: accounts[2]});
     let owner = await ownable.owner();
 
      assert.isFalse(owner === other);
@@ -29,9 +29,9 @@ contract('Ownable', function(accounts) {
   it("should guard ownership against stuck state", async function() {
     let ownable = Ownable.deployed();
     let originalOwner = await ownable.owner();
-    let transfer = await ownable.transfer(null, {from: originalOwner});
+    let transfer = await ownable.transferOwnership(null, {from: originalOwner});
     let newOwner = await ownable.owner();
-    
+
     assert.equal(originalOwner, newOwner);
   });