While you may believe you need to develop your business further before you start thinking of protecting it, it is, in fact, the opposite that is recommended to foster the growth of your business. Protecting your business‘ identity is something that should be on your to-do list right from inception. This is because as your business grows, the cost associated with rebuilding its identity in case of duplication keeps on increasing. In this article, we discuss some of the tips that small businesses should use to maximize our trademark’s value.
1) Carry out Proper Research & Choose Wisely
To avoid rejection, it is suggested to first carry out extensive research for names that are similar or identical to the one that you have chosen. USPTO Trademark Search System can do this. In addition to that, it is also advised to come up with a name that is unique and can be easily defended legally. Names that are generic or descriptive are not given protection and hence should not be considered. Also, it will benefit your business if you come up with something that is unique and stands out amongst competitors as it will attract more attention of the consumers.
2) Register with USPTO
Once you have decided on a unique name for your business, you should immediately move on to applying for a trademark. By getting your trademark registered from USPTO, you will carry exclusive rights to your brand. Filing the intent to use application is considered to be the first step in this entire process. By getting registered with USPTO, you will be able to communicate to the competitors about your rights and will be able to bring your name in the search list of USPTO which will prevent other businesses to use the same name. This process might take longer than expected hence it is recommended for businesses to apply as early as possible.
3) Keep a Check on Violations
After you have successfully registered your trademark, it is essential that you keep an eye out for any infringements that may occur. This is because no other entity will be policing for any possible violation that takes place. Hence, it is your responsibility to keep a check and report the violations. However, if you wish to take it to court, it will depend on the effectiveness and strength of your name what the outcome of the claim is. In case you have a name that is not easily protected, you might lose the claim. This is why it is extremely important to carry out step 1 carefully and diligently.
Protecting your intellectual property requires immediate attention which is why it is important that you give priority to this task. Keeping in mind all these tips will help you maximize the value of your business’ trademark and prevent you from making common trademark mistakes.
Protecting your trademark can be an exhaustive process; which is why we recommend you contact the business lawyers at Michael Ahmadshahi, PhD, Law Offices today, to seek assistance and come up with an impermeable trademark protection policy for your business.