13 Mar Don’t Be a Copycat
Your brand is one of your company’s most valuable assets. Do your research (due diligence) before investing time and money in launching your brand. Legal Garage can do a clearance search to make sure your new identity is available and doesn’t infringe on anyone’s prior rights.
Trademarking your brand name is key to protecting your new identity. A Trademark (TM) is like a property asset, similar to real estate. A trademark can be bought, sold, or rented (licensed).
Failing to research your business name, mark or tag line can lead to denial of registration by the USPTO or worse, a cease and desist letter from another brand owner. Spend the time and a little money up front to find out if your brand is available. You’ll avoid the sky high costs of a trademark dispute, litigation ($50K+) or an all out (customer crushing) re-brand.
Think you can wait till later? We know several successful business owner’s who’ve had to rebrand – midstream – because they ignored TM requirements. There are businesses whose sole job is to find copycats and sue them. In fact, to hold on to your trademark – you are required by law to protect it. It’s a thing.
Pro Tip: The more you differentiate your brand from others in your industry, the easier it’ll be to trademark. Choose a name and logo that distinctly identify your business – and trademark it to protect it from competitors.