Trademarks are the building blocks for the success of a new company. There are numerous reasons why a company or an individual needs to secure a trademark, including:
1. Brand Protection
The public identifies a trademark and then separates the products and services from the other products and services in that field, creating brand recognition and distinction. This distinction now supplies protection from confusion with competitors or outright intentional infringement of your Trademark.
2. Social Media
Social media is as essential to the creation and stability of your brand as brick-and-mortar is to a building. E-commerce is booming, and if there is no trademark in place that can be used to create and develop your brand on social media sites, it becomes a detriment to a new business.
3. Reputation
As an entrepreneur, you have put a lot of time, energy, and soul into developing your brand, and because of that, you are also creating a reputation for that brand. The public will connect and have specific ideas about what that word or logo means to your product or service. You want to build a reputation and make it stand for something good in the public eye.
4. Money
When building a new company, the main goal and aspiration is to be profitable. Most new owners don’t realize the gravity of securing a trademark. It can be one of the greatest assets for the company. When the time comes to sell your company, your Trademark may be the portion of the assets that brings the most money for your company. Your Trademark is building equity in your business.
5. Enforce Your Name and Stop Rivals From Cashing in on Your Goodwill
You’ve paid money in terms of advertising and marketing for years; if someone’s trying to ride your coattails, you have a trademark, and you can stop that.
I cannot stress enough the urgency of trademark protection during the emergence of your new company. It stops you from spending money to build up the brand and its reputation to have your competitors take advantage of that.
As an active Intellectual Property Litigator, Mark offers successful insight into trademarks, copyrights, and patents.
Contact Mark Warzecha to discuss the language of your trademark license or litigation questions concerning this issue.
