Due to being stuck indoors due to the pandemic, lots of people are starting businesses these days. You can’t blame them, it can be caused by cabin fever, or it’s probably their way of generating income from the comforts of their home.
What most people forget to do when they start a business is to protect it, and this is the biggest mistake any entrepreneur can make especially if they plan to build amazing brands.
The best way to protect your brand, which in turn also protects your business, is to trademark it.
Since many don’t see the benefits of trademarks, thousands of brand owners have lost their businesses which caused them to either rebrand, or lose their brand entirely. The good news is, that trademarks are there to protect your assets by legally enforcing a monopoly on the mark you registered.
So read more and learn about the 3 important benefits you can get by applying for a trademark and how this can help you keep your brainchild and a major asset of your business.
1. A Declaration of Ownership
You will hear from a lot of so-called “experts” that you don’t really have to get a trademark for your brand at all, and that you have some sort of protection that naturally exists when you come up with something. Here’s the thing—that person may be confusing this with a copyright and even that has to properly registered for guaranteed protection.
If you have an unregistered trademark, it would only protect you in your immediate geographical area, and it doesn’t even protect you from other people who would register a similar trademark, therefore barring you from registering your brand in the future.
What trademarks do is give you a legal declaration of ownership—one that protects you in the eyes of the government that your brand is yours alone and that if anyone even tries to use it for their products and services, you can tell them to stop or sue them for damages.
2. Federal Protection
Don’t look down on trademarks as they really cover all bases when it comes to protecting your brand. For U.S. trademarks, you aren’t limited to your immediate geographical area anymore. You’re actually entitled to federal protection which means that all States will recognize your brand as yours and nobody will be able to register any similar brands anymore.
Although trademarks can be challenged, the rigorous application makes that very very rare. A whopping 60-81% of initial applications are rejected, and this just means that the Trademarks Office does their job well. Trademark applications are scanned and reviewed thoroughly and you may think it’s a fast process—it is not! Trademark application that have no problem or what they call office actions, can take up to a year to be allowed and registered; Plus the fact that you have a lot of requirements to submit after that.
That’s why trademarking companies exist, but beware the ones that promise so much (or too much, that it’s too good to be true) when they price their services for about $500. Be on the lookout because they might say that they can do everything for you, but they most often than not won’t give you your money back in case your trademark gets rejected.
3. The Only Way to Protect a Brand
Incorporating your business, getting a domain name, or even just getting a copyright on your brand WILL NOT provide the protection you need. If you’re a business owner who wants your brand to stand out and be recognized apart from other similar products and services, a trademark registration is the first thing you should ever do—in fact, you should do it before you launch your business.
This is Mohimenul Islam. Who is a professional SEO Specialist & Blogger. He has been working since 2015. He loves to share his stories, tips, tricks, and teach online readers.
In GasAsk.com he works as an SEO Manager.