5 Common Trademark Myths Debunked
Safeguarding your brand with the proper legal guidance is essential. However, many business owners tend to undervalue trademark registration. Why does this occur? Undervaluing trademark protection is often due to common myths and misconceptions that can leave your business vulnerable. Without the right knowledge and support, you might unknowingly leave your brand open to risks that could have been easily avoided.
Securing your brand through federal trademark registration with the United States Patent and Trademark Office (USPTO) helps to ensure your business name, logo, and other brand elements are legally protected. This safeguards your brand identity and provides a solid foundation for growth and expansion. By seeking proper legal guidance, you can navigate the complexities of trademark law and avoid common pitfalls.
5 Common Trademark Myths That Could Jeopardize Your Brand
MYTH #1: Only “big brands” need trademarks
Every brand, "big" or "small," is left exposed and at risk of trademark infringement and significant financial losses if not adequately protected. Whatever the size of your business, trademark registration should be an essential consideration in your business strategy.
Protecting your brand early and thoroughly- no matter your business size- can prevent others from using your name or logo without your permission, safeguarding your brand's identity and market presence.
Not registering your trademark due to the belief that it only matters for "big brands" can lead to business-changing legal frustrations and unexpected costs such as:
Infringement upon your brand and copycats feeling emboldened to monetize your intellectual property.
Potential loss of sales and profit
A forced – and often costly – rebrand if another business trademarks your same or similar brand identifiers
Challenges or delays in expanding your market position due to a lack of trademark registration
Difficulty in enforcing your rights and taking legal action against those infringing upon your brand
Don’t leave trademarking for the “big brands.” Secure your investment from the beginning and grow your business with peace of mind.
MYTH #2: A registered business name is the same as a trademark
Often, one of the first steps a business owner takes is to register their business name with the state government. This state registration indicates the name under which your business legally operates. Unlike a federal trademark, however, a business name registered at the state level does not include protection throughout the United States. Additionally, having a registered business name does not protect your unique identifiers such as brand name, product/offer names, slogan/tagline, logos, and, in some cases, color palette.
Registering your business name as an entity does not grant exclusive use of that name throughout the United States. Only a federal trademark can provide legal protection to prevent others from using the same or a similar name or logo in your industry. Growing your business with only a registered business name does not provide the same comprehensive legal protections you need to lay a legal foundation that can support the longevity and health of your growing business. Get ahead of future legal challenges and ensure the full security of your business through official trademark registration.
MYTH #3: You can trademark your brand at any time
The risks of delaying trademark registration are simply not worth it. While you can potentially trademark your brand at any time, I highly recommend trademarking early to secure the future of your business. Why?
Delaying trademark registration can lead to the following:
Someone else registering a similar trademark first, causing potential legal disputes or barring your use of a similar name.
The potential for paying royalties to another business that registered the same or similar trademark first.
Needing to rebrand, which can be a costly and unplanned expense
Losing credibility and trust among your consumers and peers, potentially leading to a loss in revenue, profit, and partnerships
Trademarking early helps protect your business from potential losses, interruptions, and damages to your reputation. Knowing you are legally protected gives you added confidence to grow and expand your business. Additionally, trademarks are a valuable asset for your business and make it more attractive to potential buyers and/or investors.
Future-proof your business with early trademark registration. Don't leave your business unnecessarily exposed and miss out on future opportunities.
MYTH #4: Trademark registration is simple and can be done without a lawyer
Do you need an attorney to file a trademark registration? While it is possible to DIY your trademark registration, if you desire to set a strong foundation for your brand and avoid potential legal troubles later on, you likely will not want to.
Trademarking without professional guidance is gambling with your brand's future. The trademarking process can be highly nuanced. Not understanding the legal requirements and technical factors involved can lead to delays and denials of a trademark application.
Common mistakes business owners make when managing their trademark registration without legal guidance are:
Incomplete clearance search: Failing to conduct a thorough search to ensure your desired trademark is not already in use can mean discovering – via a denial from the US Patent & Trademark Office – that it is already in use.
Filing under the incorrect class: Even if your trademark is approved, misidentifying your goods/services under the incorrect international class can result in insufficient protection and leave you vulnerable.
Improper filing: Submitting an incomplete or incorrect application form can lead to delays, additional fees, or outright rejection by the USPTO.
Incorrect handling of Office Actions: When the examining attorney spots a potential issue with your application or needs more information, they will issue an Office Action. Failing to respond properly can result in a rejected application and a loss of time and money invested in the application process.
Also, the trademark registration process itself is not exactly "simple." Choosing not to work with an attorney likely means spending lots of time and energy on understanding legal jargon and navigating the intricacies of the process – time and energy that you could be spending on building your business! When you work with a trademark attorney, they will draft your application and advise you on any anticipated risks. Legal guidance reduces the risk of your application being rejected or facing future legal issues, as well as the disappointment of a trademark registration denial and subsequent unexpected rebranding of your business.
MYTH #5: Working with a trademark attorney is too expensive
As a business owner, you understand the value of investing in services that elevate your business and save you time and money - after all, your time is money when you own a business. Investing in a trademark attorney can save you time and money by equipping you with guidance throughout the process, reducing the risk of costly legal issues in the future.
Pursuing trademark registration without an attorney can lead to costly mistakes and easily avoidable risks, forcing you to spend thousands in legal fees, which amount to significantly more than the cost of working with a trademark attorney upfront. The time spent learning legal jargon, understanding the process, and ensuring proper registration is time that could be spent earning money and growing your business!
Working with a trademark attorney may greatly reduce the risk of costly legal issues in the future. Let a trademark attorney work with you to safeguard the business you've invested countless time, energy, and resources into.
Secure Your Brand Through Trademarking
From conducting thorough clearance searches to filing applications and handling any legal issues, working with an experienced attorney to secure your brand ensures that the process is done right. This investment in your brand's future saves you time, money, and potential legal headaches down the line.
Don't let misconceptions about brand protection put your business's growth at risk – take the necessary steps to secure your brand and ensure its long-term sustainability.
Want to learn more about protecting your brand? Contact us for a complimentary trademark consultation. Let's ensure your business is legally sound and set for success!