This article is originally published at UpCounsel.
The benefits of registering a trademark include name recognition, copyright protections, and brand distinctions between the competition. Overall, trademarks are highly useful assets you can use to your advantage while gaining an advantage over the competition. According to recent estimates, trademarks entail a third of corporate value. A valuable brand can be estimated at billions of dollars for major corporations. Protecting and developing trademarks is not a simple cost of doing business.
Rather, it is a suitable investment used to garner customer interest and loyalty to your brand. Overall, trademarks lead to high sales and greater customer satisfaction. A trademark may come in the following forms:
A trademark may also be a combination of such attributes. Trademarks also guarantee a certain brand consistency for consumers. As a business owner, you must assure customers that they are getting the same quality. You may get a trademark application from the U.S. Trademark Office, and it is less expensive than the patenting process. Applications to register trademarks may be centered on the following:
- Bona fide intent to use, allowing you to reserve a mark for up to 3 years after the application via the United States Patent and Trademark Office
- Ownership of foreign registration or applications
- Actual use of the trademark in U.S. business transactions
A trademark search is usually not required, and the searching process can stop preventing conflicts by determining if a proposed mark is ready for the services and goods for which it’s intended to be utilized.
Take note of the following trademark benefits:
- Trademark registration allows a person the right to sole use of the mark in regards to the services or goods. In addition, the most important purpose in registration of a trademark comprises powerful answers against any unauthorized use. Trademark registration allows the proprietor to begin litigation against infringement.
- Trademark registration also prevents others from using similar marks by making a mark easy to find when searching for trademark availability searches. This also prevents problems before they arise.
- Trademark registration safeguards against trademarks that may sound too confusing.
- Trademark registration designates the mark on the use of the application date, which is important in a system where the first use wins. Your rights are restricted to a geographic area.
- Trademark registration affords national notice of ownership, stopping others from claiming a subsequent adoption of the mark.
- A registered trademark may be designated as a security, which means that the trademark may be pledged as collateral to obtain loans in the same way other properties may be bonded.
- Regarding tangible property, your trademark is considered a valuable, intangible asset. Trademark registration entails the attachment of goodwill and reputation to a product.
Common law trademarks attach goodwill, and the goodwill is not separate from the legal entity. This has a benefit that unregistered trademarks do not have. Trademark registration, on the other hand, may be transferred as any other asset owned by a company or person.
A registered trademark may be licensed. A trademark license may be recorded on the trademark, allowing the licensee certain rights to commence legal proceedings in the event of trademark infringement. Registered trademarks may be transferred as well. The same method is not possible through a common law trademark, which can be transferred with the company. Trademark registration also deters others from using trademarks that are like yours regarding services or goods such as yours. Therefore, you let others know of your rights as a trademark holder. In addition, a trademark may be discovered when others search through the trademark registry.
Stopping Trademark Violations
You can prevent others from using your trademark in the following ways:
- Using the trademark symbol allows others to know about your rights, and the registration means that others can find your trademark in the registration database. This also means that others are less likely to use your name if it’s already found in the system.
- Getting a registered trademark makes it easier, cheaper, and faster for you to stop others from using similar trademarks. This could happen with a couple cease and desist letters from an attorney.
- Trademarks show validity and guarantee your rights in a court of law. Moreover, you have a stronger case if you can show papers to a judge regarding your rights as a trademark holder.
Trademark registration bestows the right to sue in a federal court and get attorney’s fees and damages, providing substantial monetary compensation.
To learn more about the benefits of registering a trademark, you can post your job on UpCounsel’s website. UpCounsel’s lawyers will give you more information on your rights as a trademark holder and what you can do if you must defend your rights in court. They will also guide you through the trademark registration process.