A trademark allows a business to have a specific logo, phrase or word that helps customers identify their products and services. A trademark is important since it helps customers to identify the products and services easily. This is because it helps with product branding and creating an identity. This reduces the cases of customers’ confusion of the product. Though it involves the organization incurring money it is equally important.
A trademark can be a symbol, word or phrase that distinguishes your organization products from another organization products. A trademark should be registered to protect the holder’s right thus preventing another organization from using your trademark. If common law rights are established it is not a must for the business to register the trademark. However to prevent the trademark from being copied as well as maintaining your brand identity it is important to register.
When to trademark a business name and logo
To avoid any legal complication related to trademarking, it is important to trademark your organization as soon as possible. Cases have been reported of companies copying other companies’ trademarks knowingly or unknowingly thus leading to them being sued. It is therefore, important to seek legal advice from your attorney to avoid being on the wrong side of the law.
Registering a business trademark
Registering a trademark involves filling of an application form that grants you legal ownership of your trademark. Seek legal guidance to make the process simple and reduce errors that may occur when filing the application forms. The relevant information required for instance the owner of the trademark as well as the time the business intends to start using the trademark require time to gather. Therefore it is important for business owners to take their time so that they don’t jump into conclusions and come up with a concrete trademark.
Cost incurred in creating a business trademark vary differently depending on how the organization want to brand itself. Making a company’s trademark requires legal counselling from an attorney which comes at a fee. The bodies that also protect your trademark for instance UPTSO in the US require some fees for the application process.
Business trademark should be unique and it is advisable not to use the product names. If you feel that the cost of hiring an attorney is too high there are alternatives. However, there are unavoidable costs that the business has to incur. Most of the startups usually struggle with conducting a market opportunity analysis, read here so you can be a good startup.