You’re an up-and-coming business owner in the middle of planning your business idea. So far, you’ve figured out your niche, set-up and target demographic. Next, you should consider getting a trademark for your company.
A trademark is a symbol that differentiates certain goods/services of one industry from others. You can register for it at the USPTO (U.S. Patent and Trademark Office). There are many reasons why obtaining a trademark for your product or service can benefit your business.
1. Trademarks help protect your brand
Because the purpose of a trademark is to give your services or goods a unique touch, it keeps competitors from taking your ideas and passing them off as their own.
2. A trademark makes your business easily recognizable
One good thing about trademarking is that it lets prospective customers instantly recognize your business since it possesses unique characteristics. For instance, if a family is hungry for a fast food meal and wants to eat at a new place, they’re likely to pick your restaurant because it stands out from other fast food places.
3. Trademarking gives you legal power
Thanks to the Lanham Act, also known as The Trademark Act of 1946, a trademark protects you from lawsuits because it alerts others of your registry status when you register your business name.
Alternatively, you can take legal action if an individual tries to infringe on your trademark.
4. Trademarks enable you to secure any needed funds
Suppose you need extra funds to purchase more equipment or save yourself from filing for bankruptcy. Investors are more likely to give you funding since a trademark provides tangible proof of business ownership.
While obtaining a trademark is not required, it helps your business in several ways. If you have any questions regarding trademarking, contact experienced legal guidance for assistance.