Entrepreneurs considering registering a trademark have the notion of business protection in mind. As an entrepreneur yourself, you always want to enhance your brand’s security. After all, you cannot successfully turn an idea into reality without a brand that is unique to your company. Fortunately, registering a trademark can protect intellectual properties such as company names and logos. To ensure that you receive enough brand protection, read on and learn the top factors to consider before registering a trademark.
One of the most critical factors to consider before registering a trademark is long-term goals. Many entrepreneurs fail to realize that the type of trademark they choose impacts their long-term success rates. If you want to eventually expand your company to conduct business internationally, do not trademark a name that includes your current location. When companies include their state, town or region names, they limit themselves to business within their area. In order to fulfill their long-term goals, they need to change their company name. To do so effectively, they go through the entire trademarking process again. Prevent this inconvenience by considering your long-term goals before registering a trademark.
Types Of Trademarks
Another factor to keep in mind when registering a trademark is the types of trademarks available. Trademark types vary from word mark to scent or flavor mark. Business owners obtain design marks, shape marks and color marks as well. To narrow down your needs, take a deeper look at your business. Consider what it stands for and what values you need to uphold. Look at the products or services you offer customers. If your startup profits off of providing IT services to businesses, you might want to focus on a descriptive mark or suggestive mark. As noted by A.E.I. Law, an unregistered trademark infringement firm, “A lawyer can assist you with ascertaining an inherently distinctive word mark, design mark, sound mark, fragrance mark, or trade dress.” To protect your brand, determine which trademark positively impacts companies in your industry to register effectively.
Successful entrepreneurs also consider required fees before registering a trademark. After all, startup fees can be costly. Take a look at your budget when starting a business. Shift your priorities to ensure that you do not break the bank when you pay trademark fees. Aside from the lawyer fees, the trademark forms could cost from $225-$400 per filing. If you planned on spending majority of your funding on a new marketing strategy, reconsider. Avoid leaving yourself with little capital for your future goals. Understand how important trademarks are for entrepreneurial success. Set a portion of your budget aside for the associated fees. Then, you will register a trademark and remain financially stable simultaneously.
Also, consider sales channels before registering a trademark. One of the most crucial steps of registering is researching already trademarked brands. Keep sales channels in mind when conducting your research. If you come across a company who has a similar name as you, look into the industry that they do business in. A retail store does not target the same audience as a construction company. The two businesses have different sales channels. However, a retail store with a name that resembles another retail store’s name could run into serious issues. After all, they share the same sales channels. To avoid confusing consumers and decreasing sales, keep sales channels in mind when registering a trademark.
Communicate Your Uniqueness
When registering a trademark, you should communicate the unique characteristics. Consider suggestive marks. Many entrepreneurs utilize suggestive marks to portray brand uniqueness. Suggestive marks promote products’ specific qualities. Entrepreneurs use them to intrigue consumers and persuade them to purchase products. If you choose to use suggestive marks, you force consumers to use their imaginations without confusing them entirely. Moreover, it communicates what makes your brand or company different. Numerous successful companies use suggestive marks to communicate a unique design, message or emotion, meaning that they are worth considering before registering a trademark.
To effectively protect your business, you need to consider the top trademark factors. For example, keep your long-term goals in mind to avoid setting boundaries. Look into the different types of trademark options and select the one that best adheres to your company’s needs. Budget your finances so that you can comfortably pay the required fees. Use your sales channels to determine whether you can trademark your name. Lastly, many profitable companies communicate uniqueness when registering their company names. Consider these factors before registering a trademark.