As an emerging entrepreneur, it's important to be aware of the laws that govern your business.
One area where entrepreneurs must be proactive is in securing a trademark for their company name or brand. Trademark protection can help prevent costly lawsuits and other problems down the road.
Your trademark is a crucial part of your business. It shows the world who you are and how you set yourself apart from your competitors - not to mention all the hard work you did to come up with it. You need to protect your trademark from those who may want to steal it, unintentionally or otherwise. The first step for any new business wanting to protect its trademarks is to conduct a comprehensive search to determine if anyone else has already taken out trademark rights on similar names or logos.
One of the most significant gaps I have noticed when working with intellectual property clients is that most people do not view intellectual property as property at all. It is a sad phenomenon because intellectual property is the only property purely and uniquely theirs from inception. In the digital world, many infringers can hide within the shadows. They identify an up-and-coming or moderately successful brand. They build a brand so similar that the customer is confused and thinks they are purchasing from your company versus a competitor.
I recently had an opportunity to work with a client who was starting up a new business. She contacted me after she realized that her previous employer was using the same name for their company as she was planning on using it for hers. This can happen more often than you might think, especially if you are not familiar with trademark law and the legal steps needed to protect your brand or product name.
When it comes to protecting your brand, having a registered trademark can ensure that no one else will be able to use your name or logo without permission.
For those who are just starting out as entrepreneurs or business owners, knowing how to protect their trademarks is essential for future success. Every business needs a unique identity to stand out from the crowd. This is why branding and trademarks are so important to your company. While it may be tempting to rush through this process, there are steps that you can take now to protect your brand before any problems arise in the future.
Here are five tips for protecting your brand with trademarks:
As soon as you start using the mark in the market, place the little ™ symbol beside the mark or phrase you seek to protect. When launching a new brand to the market, you want to identify your brand identity. In trademark law, there is a common law mark and a registered mark. When you use the ™ symbol, you place the market on notice that you are asserting common law ownership over the word, phrase, or symbol.
Consistently use the ™ symbol each time you use the phrase. To take ownership under common law, you have to show that you have consistently used your mark in commerce AND that the market was on notice that you are asserting a right to the exclusive use of the mark. Doing this will protect you if someone tries to file for a formal mark similar to yours down the road.
Decide whether this is the EXACT mark or phrase that you will use in the marketplace. Trademarks are expensive, so you want to be sure that you will continue to use the mark as is. Any changes down the road will be costly and could result in your loss of the exclusive use of the present mark.
File the mark with the United Patent and Trademark Office or your country equivalent. If you are doing business within a country, the best route is to obtain a national trademark. Several countries have reciprocity agreements, which means your mark will be honored in your home country and the other country. Be mindful of which countries offer reciprocity (and which do not) when doing business in the digital world.
Monitor and police your mark. The most critical aspect of protecting your brand is to monitor and police your mark. Monitoring your mark could be a small as setting a Google Alert to send you a list when your name, phrase, or mark is used. Alternatively, there are trademark watchdog services that you may hire to monitor your mark and deal with potential infringers. If you find that someone infringes your brand identity, you may send them a “cease and desist” letter. If they continue after the cease and desist or assert they have the right to use the mark, try and work things out amicably. If that does not work, you may have to file a claim in a court of competent jurisdiction to resolve the matter.
What’s holding you back from taking that first step towards securing your company's identity?
Protecting your business is essential for future success. Why not start now? Our team also has extensive experience with any aspect of business and intellectual property law or branding strategy.
The All-Access Pass gives you even MORE!
✨ Group Coaching every month, with the opportunity to be an AMSE Group Coach yourself!
✨ An exclusive discount in the AMSE Shop!
✨ A FREE 20-second snippet on our official podcast, Owning Up, to promote your business!
✨ A feature on the AMSE Blog - all about you and your business!
✨ Access to the AMSE Cohort, an immersive 7-week course with hands-on coaching through the Building Your Business the AMSE Way coursework with Moni Jefferson.
LeTonya F. Moore, JD is a business growth strategist, attorney, author, and award-winning entrepreneur with almost twenty years of experience building successful enterprises. She is the visionary behind 360° Legalproof Your Brand™ methodology, developed to assist clients with overcoming regulatory, financial, legal, and operational barriers so that they can achieve an unparalleled advantage and an accelerated path to profitability and sustainability.
As a former federal government regulatory attorney turned “Brand Builder,” LeTonya works with entrepreneurs within emerging industries.
She works with product and service-based brands businesses. Her sweet spot is regulated industries to dismantle the regulatory red tape and overcome financial and operational barriers to expand their business and crush the competition.
LeTonya represents business clients both small and large. She is the creator of the “Legalproof & Launch,” a brand-building ecosystem system developed to teach emerging entrepreneurs how to build credibility, visibility, and profitability within their industries. The flagship programs, Legalproof & Launch Your Product Biz and Legalproof and Launch Your Iconic Brand, live within the ecosystem. LeTonya created the former to assist product-based entrepreneurs in regulated industries effectively and efficiently in getting their products from home to online store shelves. She developed the latter to teach experts how to leverage their expertise to become the obvious choice within their industry.
LeTonya is the author of “Stop Brand Stealing Thieves Now! Your Brand Protection Playbook”, a handbook for growth-minded business owners seeking to avoid legal pitfalls by proactively protecting their business. You can find out more at www.iprotectyourbrand.com.
