Trademark Importance: You may wonder if I need a trademark for yourself? We have your all-round guide so you can receive the answers. Please read to find out more.
It’s important to ask yourself whether you start a company, expand a product line, or rebrand – do I need a brand for my business? Many considerations have to be taken into account. Like with all other matters relating to intellectual property, it is always advisable to check all boxes before you go through the process.
10 stuff you ought to know here:
- What’s the trademark?
A trademark, internationally speaking, can be anything from words to graphic representations (usually a logo) representing a company or a product. The first thing you can understand when you ask, “Do I need a trademark?” it is completely separate from other business filings. It is a completely different legal process from the process you are going through to register your fictitious name, LLC or sole proprietorship with the applicable state and federal governments.
- Why register a trademark?
If you are selling a unique product or service, registration of a trademark may be an integral part of protecting your intellectual property and ensuring that no one else can use your name or logo to do business. Trademark registration is almost always your safest bet to prevent another business from using your logo or name to carry out business operations.
- Do I need to register a trademark to use it?
You do not need to have a trademark to name your company, to reserve a URL, or to have a logo. You can operate without one, but if someone or something else uses the same name, you could have legal difficulties along the way if you don’t ask yourself, “Do I need a trademark?” If you want to be legally protected your business to register as a trademark, why not? It’s definitely better to operate with a trademark than to take the risk.
- How can an IP consultant help?
Professional IP consultants can help to protect, strengthen, build and expand your business by managing and using the Intellectual Property System to your advantage. Choosing a global intellectual property service company with experience in handling all types of trademark situations will ensure that you are in the right hands and that you can continue to do what you do best — building your business.
By hiring a lawyer, you make the process of registering a trademark less stressful for your business, and you’re doing things right from the start. In fact, by hiring a trademark lawyer, you increase the chances that your trademark application will be approved by 50 percent.
- The distinguish Between A Trademark, And A Copyright
Trade secrets and copyrights are categorically distinct from trademarks. Trademarks do not necessarily involve information that is not known to the general public, whereas trade secrets do. Businesses typically protect their trade secrets by taking measures such as asking employees to sign non-disclosure agreements.
Copyrights vary from trademarks in a number of respects. Namely, the fact that they grant the right to copy works of intellectual property for a limited period of time.
- Is your name a brand?
For certain cases, you might like your own personal name to be traded. For example, if you are an author, intellectual property with your name attached could be valuable.
Another example where this could be relevant is if your company is listed under your name. It could be a family business with a family name that sells a family recipe.
- Also, do a search for a trademark
When you register your company with the state and federal governments, one of the steps you will take is to see if the name and organization you are registering has already been trademarked by someone else. You will have your company name or organization accepted and be trademarked by someone else.
This means that if you are operating and selling goods under a name that has been traded by someone else, anyone who owns that trademark can take legal action or ask you to stop operating under that name after the fact. That lands you back to the beginning of the process.
- How much does the registration of a trademark cost?
How much a trademark costs to register depends on where you are based. In the United States, it usually costs a few hundred dollars, depending on how many groups you choose to cover. When you leave the procedure to a specialist, it typically costs a few hundred dollars more than that.
As far as acceptance is concerned, you will actually improve the likelihood that you will be accepted if you hire someone to do it for you. A few terms here and there will make a major difference in the application process.
- Trademarks Matter whether or not you are selling products
It doesn’t matter whether you’re selling goods or services under the logo and name of your business — a trademark might be necessary. When you are functioning as a company, you should consider whether or not you should file a trademark before doing so.
- Trademarks and rights to cybersquatting
Do you have a trademark on something that you have registered, and someone sits on a URL that bears the name of your business? If you register your trademark, you are more likely to have some influence on the Internet Corporation for Assigned Names and Numbers ( ICANN).
You may not be Nicole Kidman, but whether anyone uses your name to make the most of it, or just lets them sit there without allowing you access or a chance to take it back, you may theoretically be able to retake it. However, if you don’t have a trademark, it’s going to be pretty hard to do so.
Here are the seven key reasons why trademarks are important to your company.
- Trademarks are an important form of contact. Trademarks can convey intellectual and emotional attributes and messages about you, your company, and the reputation of your company, products and services in a single brand or logo. Designs may be identified in any language or alphabet. The Nike ‘Swoosh’ design is known globally, regardless of whether the native language is Swahili, Chinese, Spanish, Russian, Arabic or English.
- Trademarks make it easy for your customers to find you. The market is competitive and it’s hard to differentiate your company from your rivals. Trademarks/brands are an effective commercial communication tool that captures consumer attention and makes your company, products, and services stand out. Customers who see a trademark immediately know who they are dealing with, the reputation of your business, and are less likely to look for alternatives. Your brand may be a key driver of the customer’s buying decision.
- Trademarks enable businesses to make effective use of the Internet and social media. Your brand is the first thing that consumers join a search engine or social media site (Facebook, Twitter, Pinterest) while looking for your goods and services.
Higher traffic on a website or social media platform translates into higher rankings, more traffic, more customers, and more brand awareness.
- Trademarks are important properties. Trademarks can appreciate value over time. The more your reputation grows, the more valuable your brand will be.
Trademarks give value beyond your core business. Trademarks can pave the way for expansion from one industry to another, such as from personal care to clothing or eyewear. If you wish to do so, your trademark may lead to the acquisition of your business by a larger corporation.
Trademarks are property properties, similar to real estate, that can be purchased, sold, licensed (such as renting or leasing), or used as a security interest to obtain a loan to develop your business.
- Trademarks will make it easier to recruit. Brands can inspire positive emotions in people’s minds. As a result , work openings are more attractive to applicants. Employee satisfaction can be higher if workers feel optimistic about the company and the goods and services provided.
- Trademarks are a bargain to get. The United States Patent and Trademark Office pays as little as $275 for registration of a trademark, just a few hundred dollars after five years and a few hundred dollars after ten years.
- Trademarks will never expire. Your trademark does not expire as long as you trade it in the United States. Some of the most recognizable brands in the United States have been around for over a hundred years. Mercedes was licensed for the first time in 1900. Pepsi-Cola had been registered in 1896.