Don’t Let Others Use Your Name: File for Trademark Registration
Trademarks are one of the several intellectual property rights that help protect and enhance your brands. They help consumers identify products and services with the entity from which they originate. Organizations rely on trademarks to distinguish themselves from their competitors, to create an association between their trademarks and product quality, and to build their reputation and consumer loyalty.
If you’ve just decided on that new name or logo for your new goods or services, then you are probably protective of your new brand name. You should be because devastating situations can happen if you don’t register for a trademark.
You should register your trademark as soon as possible to avoid:
- Another person or business copying your name or brand.
- Sales plummet because customers are purchasing counterfeit products mistakenly.
- Having to rebrand because another person owns a similar trademark with priority.
Registering for a trademark can help you avoid these scenarios and ensure no one damages your brand. Registering your trademark will also give you additional rights and benefits that are important in case you ever have to enforce your trademark rights. By getting your trademark registered, you will obtain the following rights and benefits as a trademark owner.
- The ability to license or assign the mark;
- Use it as a security interests in financial transactions;
- Exploit in business negotiations;
- Have standing to sue an infringer to enforce your trademark rights;
- If successful in enforcing your trademarks in court, you are entitled to receive statutory damages for each infringement and attorney’s fees. YES, you can potentially get the infringer to pay for your attorney but only if you have a FULLY REGISTERED TRADEMARK.
The importance of registering for a trademark cannot be understated. Take the proper steps to ensure your new product or business name is protected. Ownership of a registered trademark can help you avoid costly scenarios and enforce your rights.