Consumer’s identify your brand with your trademark. If you think, trademarks are only larger corporations, you are simply being misled. Trademarks are necessary for small businesses too because a trademark are related to a particular brand. International trademark association defines trademark as
” A trademark may be any word, name, slogan, symbol, device, package design or combination of these that serves to identify and distinguish a product from others in the marketplace. “
The key goals of having a trademark:
One of the reasons that your business should have a trademark is to avoid an unnecessary confusion in the already crowded market place. However, there are a few key reasons for having a federal trademark for your business.
- By registering your trademark, you are officially enlisting the name of your business with the U.S patent and Trademark Office(USPTO). This will prevent another entrepreneur from using the same name or words as yours for their trademark.
- Once the trademark is registered, if you suspect another enterprise of using your trademark, a cease and desist letter from a reputed attorney from your end is more than enough to stop them from using your trademark.
- Another advantage is that you can sue another enterprise in the federal court for infringement even if the competing business is located in another state and has been using your trademark.
- Lastly, once you submit your trademark application for review, the authorities would check for any conflicting marks. This means that you are not infringing the rights of another enterprise. And it will help ensure that your business trademark is legally yours to use.
Why trademark is important to your business
- Consumer finds your products/services easily- Consumers deal with trademarks every day and the trademarks and the brand reputation influence their purchasing decisions. Buyers relate your product or services with your company’s trademark. Remember the market is crowded with products and services that are similar to your offerings. Therefore, in order to capture the attention of your customers and also to make your products/services offering stand out from that of your competitors you need to have a trademark.
- Social media marketing becomes easier- Brand recognition is necessary to increase the online visitor’s traffic to your website. The brand name is the first thing a customer, new as well as the existing ones would search for in the Internet or social channels when they are looking for your product/services.
- Trademark of your business appreciate in value and is proportionate to your business reputation- With time, if your offerings are of high standards and superior quality, people connect your trademark with quality. Thus it becomes a valuable asset when you expand your business from one industry to another. As the reputation of your business grows and at one point you want to sell it, your trademark can ensure the ease of the acquisition to the biggest bidder. Also it can be used as a collateral to secure a business loan to grow your business.
- Hiring top level professionals become easier- Who would not want their names to be identified with a top brand. Brand that inspires positive thoughts in the mind of the people will be able to easily attract the right candidates to fill in the various vacancies. Similarly, employee retention is also higher when the reputation of the brand is high.
Registering your trademark
You can register your trademark through the U.S. Patent and Trademark Office. Either you can file the application directly or get the help of a legal filing firm to handle your application. The minimum time to complete this process, provided there are no hassles is seven to twelve months.
If you do not have a registered trademark, register with USPTO without any further delay.