A trademark is a logo, symbol, or business label used for distinguishing one business from another, and is also used to show the sources of goods and products. When coming up with a trademark, you must think of unique names or create a memorable logo for the market. When doing business, trademark registration is a vital affair that comes with several benefits.
As a business owner, it’s critical that you also protect your business against infringement. Your competitors are working tooth and nail to see your business fail. The same happens when you have the best products in circulation. Your brand is your number one thing that needs protecting and you’ll be safe knowing that no one else is messing or tampering with it. Here are some of the things you need to know including the benefits of federal trademark registration.
For Protection Against Infringement
A registered brand wards off the risk of another business using your logo. A trademark gives your business a legal stand from anyone trying to use your brand name without your consent. The mark of quality established will help protect your business and not only this, but it also gives you a standing in the business community. Anyone using your logo or brand name after registering it will be liable to a lawsuit. Now, you need to know the costs involved when registering your business. There are also federal trademark renewal costs that will be paid on a monthly or annual basis. But this should not be a reason for concern as every state has a set limitation on how different types of businesses should pay. The repercussions of trademark infringement include:
- Jail term
- Hefty fines
- Losing your trading license
- Tarnishing your trading name
Works In Product Differentiation
other businesses or companies are not legally allowed to use your trademark, and thus, it is only linked to your establishment. By registering a trademark, you ensure that consumers can differentiate your products from those of your competitors. Your products become identifiable to your consumers, and they can understand your vision and goals. It can also work to benefit the business in advertising with a unique trademark that is relatable to the consumers.
Acts As A Trust Builder
When your business only uses a trademark, consumers trust that any product in the market bearing your trademark comes from you. This way, the consumer has no holdbacks from purchasing as they can easily sue if the product is harmful to them. The consumer trusts that your company produces quality products as any less can lead to a lawsuit. A trademark will also ensure that customers are maintained as they associate your symbol with trust.
It Provides For Exclusive Rights
When a trademark is registered, it allows that only that particular business can use the logo. Similarly, when you do not register your trademark, you open up loopholes for other businesses to use your logo without infringement liability. When you trademark your logo, you ensure that other businesses cannot use your trademark with similar goods, and in a way, reduce competition. The trademark owner can develop other products that use the same trademark, ensuring that trust is maintained and products differentiated.
Acts As A Form Of Human Resource Attraction
A registered trademark is bound to attract attention to the public since a particular reputation has to be maintained. Graduates and job seekers are attracted to recognizable brands, as they tend to pay more and offer more ground for the experienced. With experience from a trademarked business, you have better bargaining scope for future employees. These businesses also tend to pay well and treat their employees better. As a business owner, you are always guaranteed to have a public that will do anything to work for you.
It Grants You The Right To Sue
If you have registered your business, then anyone using your trade signs will be liable for penalties, fines, or jail term. If you have a business attorney, they’ll help explain some of these things as well as help you when negotiating the intricate legal processes. It’s not going to be an easy road when it comes to filing such a lawsuit but then again, do you want someone else to use your business name or brand name? You guessed it right! There are legal hurdles to be dealt with but with a business attorney at your side, there are no reasons to fret.
When used appropriately, a trademark has far more advantages than just being a logo. Register your trademark today and reap the benefits that come with it. Also, you’ll be in the safe zone knowing that your entity is protected by the law.