A trademark, commonly known as the brand name, is a unique symbol that distinguishes your company and the products or services. It can either be words, symbols, numerals, devices, or combinations represented graphically. Trademarks for services are known as service marks.
Many people confuse a trademark and a patent, but a patent excludes other people from making, using, or selling an invention for a specified amount of time. Some of the benefits you get from having a trademark include:
Once you register a trademark, you have exclusive rights to it, and you can use it for any other products or services that fall under the classes you applied the trademark for. You also have the right to sue any other company that uses your trademark for the same class of goods and services.
Once you apply for the trademark, it runs for ten years, throughout which you have to pay maintenance costs. If you still want to have the trademark after ten years, you will have to pay renewal fees, or someone else can use it.
This is one of the main reasons why people register trademarks. It makes it easy for clients to recognize and differentiate your products from any similar ones from competitors. Your business logo also communicates your business values, mission, and vision, making it easy for customers to choose your brand repeatedly.
Before developing a trademark for your business, you should conduct a trademark name search to ensure it is not already taken. Your trademark should be unique and easy to identify and remember for clients.
Protection against infringement and counterfeiters
A registered trademark prevents other people from using your brand name or logo to promote their products. However, sometimes people might manage to use it without your permission or make any malicious use of the trademark.
You can record your trademark with the United States Customs and Border Protection, which helps them identify your trademark. That way, they will monitor, seize, and detain any imported goods or those scheduled for export that infringe your rights to the trademark.
Right to use the ® symbol
Once you have registered your trademark, you can use the ® symbol after your logo to market your products or services. It lets your clients and competitors know that you have registered the trademark and that nobody else can use it without your permission. It also gives your company more credibility, and it’s easier for clients to trust you.
Creates a good reputation for your brand
Having a trademark shows clients that your brand is legit and has high-quality products. This builds trust and is easy to attract new customers and maintain the old ones.
It also creates a good reputation among people looking for jobs. Employees want to work in a legal company with high-quality services, which is reflected in having a trademark.
This increases the chances of your company hiring the best talent and skills in the market, increasing productivity over that of your competitors. It also gives your company a high employee retention rate.
Global trademark registration
Expanding your business into other countries and filing for a trademark in those foreign countries is easier if you already have a trademark in the country where the parent company is. The foreign countries will use your trademark in your country as a basis to give you trademark rights or allow you to extend the rights of your current trademark in the country.
A trademark is intellectual property for your organization, an intangible asset that adds more value and advantages to the company.
You can sell, assign, franchise, or commercially contract your trademark to other companies, giving you an extra source of income. This is also a market strategy that increases recognition for your brand, leading to increased growth.
Creating a business and its reputation in your industry takes a lot of time, effort, and money, so it’s essential to protect it. While it might be costly, you should consider registering a trademark for your company as soon as you open it to differentiate it from competitors and attract customers.
It prevents other people from using your brand name and logo or from making counterfeits of your products. Before applying for registration, however, research and ensure you are the only one using the trademark you choose to avoid any legal battles.