Whether you’re just at the beginning stages of starting a business, or you are close to launch, you’re likely feeling rather bogged down with all the tasks on your to-do list. While it’s easy to push some of the “less fun” things to the side (like legalities, finances, and intellectual property) while you develop products or services, find office space, and think about making it big, it’s vital not to forget just how important they are to a successful business.
For example, one of the key elements of creating a good branding strategy for your small business is actually legally protecting the logo, words, phrases, domain names, pictures, and even packaging that you come up with. Sounds, smells, and shapes can also be unique to your business and worth keeping secure.
This is where trademarks come in. Trademarks are used to distinguish the products or services sold by one business from those of another, and help to ensure that your designs can’t be appropriated by any other organizations or individuals.
Before you figure out how to launch your startup, make sure you learn about the ins and outs of trademarks, including how they can be of benefit, how you can register them, and where they can be applied. If you’re keen for a quick rundown on all the important points, read on for what you need to know today.
Benefits of Trademarks
There are multiple benefits to setting up a trademark on your intellectual property. The major positive outcome from doing so is that it stops other companies or people from being able to legally use any of your all-important logos, marks, names, signs and the like, or to pass their product or service off as yours.
Once you have a trademark in place, anyone that does a search for words or other property similar to yours will quickly realize that you already have established rights in place. By putting a trademark in place, you have the ability to take legal action against anyone who is found to be infringing upon your intellectual property rights. While some people mistakenly believe that just setting up and registering a business or company name will give them exclusive ownership rights over the name, this isn’t the case. Only a trademark will provide proper legal coverage.
Another big benefit of putting a trademark in place is that it helps to convey your brand as professional, and can help build cachet. Consumers often feel safer spending their money with a business if it has a trademark because they see the logo as a sign that the firm is legitimate, trustworthy, and will be around for many years to come.
In addition, trademarks can potentially be used to generate extra income for a company. Once a brand is well-known and popular, many other businesses or individuals may become keen to capitalize on the name. They can do this by licensing the use of the mark to sell their own products or services. For example, look at a trademarked brand like Disney — the company’s many famous characters these days grace the front of hundreds of different licensed items, including toys, clothing, games, gadgets, and many other types of merchandise.
How to Organize and Use a Trademark
If you’re keen to organize a trademark for your business, you first need to conduct a search to ensure that what you want to protect does not infringe on anyone else’s intellectual property. (It pays to utilize the services of a specialist I.P. lawyer for this to ensure that there is no overlap).
If this search shows that you’re in the clear and can proceed, the next thing to do is file a trademark request with the United States Patent and Trademark Office (USPTO). This Department of Commerce agency has an online submission system called the Trademark Electronic Application System (TEAS), which provides the easiest and quickest method for filing trademark paperwork — it is also less costly than submitting the forms in person.
Your application to the USPTO must include many details, including the name of the application or owner; address information; a list of any goods and services associated with the requested trademark; and a clear representation of the name, logo, or other identifying mark.
If and when you receive confirmation that your request for a new trademark has been granted and registered, it pays to make the fact that you are protecting your intellectual property nice and visible. For example, it pays to place the trademark symbol next to your protected mark in all of your company documentation, including collateral like websites, business cards, letterhead, emails, and more.