Startup and business founders spend a lot of time and money to come up with a perfect logo and name. These are important to new businesses and can be the first thing for customers to see. They also establish goodwill in the market to represent the quality of services and goods.
While name and logo are important, most businesses overlook protecting these intellectual properties. You can protect these properties by filling trademark with the USPTO (the United States Patent and Trademark Office). If you haven’t trademarked your business yet, here are reasons you should do so:
- Prevent Rebranding
If you research and choose a product as well as a company name, which seems eligible for trademark protection, you will lower the chances of rebranding your business to avoid a lawsuit. Rebranding is time-consuming and costly, and you risk losing the marketing momentum, which you have.
Once you file a trademark application and get approved, you will have the right to use your mark countrywide on the services or goods you listed. This places you on a much firmer ground when another business claims you’re infringing on its trademark.
- Communication Tool
In one logo or brand, a trademark may convey emotional and intellectual messages as well as attributes about your company, including its reputation, services, and products. If you have an insurance company, and you have been served with your insured’s claims on a business advertising injury, like trademark infringement, the first process is to determine if the intentional acts can apply to look at the complaint itself.
Whether you offer insurance courses or policies, your trademark doesn’t have to be a word. People can recognize designs regardless of alphabets or language used.
- An incentive for Workers to Join
New businesses need to preserve positive reputations when they own a trademark. If businesses can maintain a positive reputation, people will be inclined to work for them. This might also apply when you need to expand your business.
As a startup, you will need more workers if you intend to expand. This will bring about the importance of a budget, making a trademark an important asset once you’re granted business loans.
- Deal with Counterfeit Products
No one likes to deal with copycats, and having trademarks can help the police or Trading Standards Officers to bring charges against all counterfeiters using your mark.
You can also look for a trademark lawyer to help you and go out into the business world, knowing that you have protected your brand and valuable assets.
- Make Clients Find You
The ever-growing and crowded markets make it challenging to differentiate various businesses. As mentioned earlier, trademarks serve as effective commercial communication tools, capturing potential and current customers’ attention.
In other words, trademarks can make your brand, services, and products stand out among your competitors. When clients see trademarks, they may easily identify the type of business they are dealing with.
It might be difficult to underline the need to get legal options for brand protection, registration, and trademarks.
According to USPTO, around 90% of representatives use legal tech tools to speed up trademark clearance procedures. It can also be interesting to observe how the rise of technology will empower lawyers in the future.