Your business name and trademark are more important to the success of your company than you may realize. Names and trademarks are essentially your brands, and so are powerful tools and communication devices. Consumers are greatly influenced by a brand’s image, so make sure you educate yourself before choosing your company’s name, logo, and other branding details.
Trademarks Have Power
With a well-designed trademark, you can tell the world who your company is, what you stand for, believe in, and create in terms of your products and services. Trademarks don’t have to be words, either; they can be symbols such as the golden arches, the shape of a soda bottle, or a jingle of music, all of which can be understood by consumers whether they speak Chinese, English, Spanish, French, or Swahili.
Names Can Impact Business Success
Selecting the right brand name for your business is a big deal. You want to choose a unique name that no other company is using and one that reflects your company’s image. Your business name should follow the following criteria:
- Easy to remember
- Appealing to the type of customer you’re trying to attract
- Related to your products and services, but not so specific that you can’t expand to another location or product line down the road
- Original
Once you’ve decided on a name, have an attorney perform a trademark search to be certain it isn’t already in use by another company. You should also be on the lookout for other services, products, or organizations that have similar names that could confuse your customers. Once you have a name, don’t change it without seriously considering the consequences.
Registering Your Trademark Is Crucial
After you’ve chosen a brand name and designed a logo, it’s important to take the next step and register them. Trademarks are valuable assets, and if you don’t claim them legally, another company may step in and use them. After spending time developing your business presence and reputation, the last thing you want to do is lose your brand. To legally claim your trademark, you may want to hire an attorney to handle the process, or you can do it yourself. The registration fees can be as little as a few hundred dollars paid to the United States Patent and Trademark Office. If you choose to use have a legal professional take care of the registration, you will pay attorney fees as well.
Trademarks Don’t Expire
Once you’ve registered your trademark, it won’t expire, although you will have to pay renewal fees. Some brands that are so familiar in modern culture have been around for eons. Consider the following iconic trademarks:
- Coca-Cola was registered as a “nutrient or tonic beverage” in 1893.
- Domino Sugar was registered in 1901.
- Listerine was registered back in 1903.
- Tootsie Roll’s trademark was registered in 1909.
- Breyer’s Ice Cream was registered in 1921.
- Pepsi-Cola was registered in 1937.
- Velcro was registered in 1958.
Copycats Can Create Problems
Once you’ve built your brand’s reputation, you have to watch out for copycats. Other companies might mistakenly use your name or do it on purpose in order to reap the benefits of confusing customers into thinking they’re you. Be on the lookout for trademark infringement by others who have become “confusingly similar” to your company. When you find possible infringements, ask some questions:
- Are the copycats competing with you for business?
- Are your products or services closely related?
- How much does the knock-off product cost compared to yours?
- When read aloud, do other business names sound the same as yours even if they’re spelled differently?
If you think your brand is being copied, contact your attorney to discuss the situation. Confused customers can lead to lost business.
The more you differentiate your company’s name, logo, and trademark from your competition, the better off your business will be. Protecting your branding assets is crucial.
Legal Disclaimer
The content on our website is only meant to provide general information and is not legal advice. We make our best efforts to make sure the information is accurate, but we cannot guarantee it. Do not rely on the content as legal advice. For assistance with legal problems or for a legal inquiry please contact you attorney.