Created with the information provided by:
Jamie Sternberg – Saunders & Silverstein LLP
When you ask most business owners about registering their trademark and why it’s important, most think of the obvious.
You register your trademark so no one else can use your name, right?
Yes, but that’s not the only reason it’s a good idea.
Here is our list of the top 5 reasons:
- Makes geographic expansion of a business easier– It could be years from now, or it could be tomorrow, but at some point, you may decide that you want to expand your brand by taking it worldwide. Having a registered trademark will help you do that. You would be able to use your US-registered trademark as evidence and leverage for foreign trademark filing.
- Easier to prevent others from adopting or registering your trademark—Stop copycats! This is the reason for registration that most people are familiar with. Having a registered trademark means no one else can use the same name, or even a name similar when selling something in the same class of goods. You built your business on a lot of late nights, sweat, and tears. Protect what you have. Don’t let someone else steal what you have built.
- Enforcing your mark is easier and less expensive—If someone is infringing on your trademark, if registered, often a cease-and-desist letter is all that is needed. If that doesn’t work, having a trademark does allow the option to file a suit against the unauthorized user.
- Investors are more likely to invest in your business. Even if you think this isn’t important now, it may be in the future. Intellectual property is a major part of an entire brand. In other words, having a registered trademark is a large asset. When a company is considering buying or taking on outside capital through investments the assets of that possible investment are a big part of the decision process.
- Potential buyers of businesses or licensees will pay a higher price. Not only will investors find you more attractive, but they are also willing to pay more knowing that yours is a protected business. They don’t need to worry about losing their brand or goodwill. Trademarks can also appreciate in value over time. The more your business reputation grows, the more valuable your brand will be.
Trademarks are serious business.
Registering them is a significant financial investment and the process doesn’t happen overnight.
It is for those business owners who are playing the long game.
Are you one of them?
Contact Jamie today.
Jamie Sternberg/Saunders & Silverstein LLP