Why Is The Trademark Registration Essential For Your Startup?
Among the first things you think when you are building your startup, surely logo and business name come right after the product or service you plan to sell. Based on your choices, you may or may not have a trademark, even though nowadays business owners are choosing logos and business names that are easily trademarked. But why do they spend time in advance and then proceed to register the trademark at the USPTO? Check out these reasons and be the judge yourself how much they relate to your business:
Legal protection – A sort of protection is obtained even by an unregistered trademark, however registering it at the USPTO grants you the monopoly of your own brand. If someone may infringe it, then you are able to pursue legal action with strong evidence of ownership. Furthermore, the U.S. Customs & Border Protection have a program that enforce your trademark rights by detaining, seizing, and ultimately destroy merchandise seeking entry into the United States if it bears an infringing trademark. Ensuring you are not infringing – If you are new to the market, you could be sued from a trademark owner if you are infringing them and be forced to pay fines and damages. When you obtain the trademark registration you are making sure that you are not infringing other players in the competition. Brand building and recognition – This is especially important in startups. By trademarking your products and services you are already making them distinctive from their alternatives in the market. Soon enough your product benefits will be linked to its name and make it more popular. It’s a company’s greatest asset – Once you begin getting the positive reviews from the customers, your brand will begin to expand. You might want to add products and services and even begin a franchise by using a strong trademark and everyone will want to try what you offer next due to their positive perception of your brand. This is why the trademark is considered the biggest asset, it’s even crucial when you are asking for a loan. Adding the “®” after your trademark – It shows your trademark is registered and protected which adds further prestige to your brand. Better employees – For a startup to expand, more employees are needed. However, finding the best people and motivating them to join you is difficult when your brand has almost no reputation. Trademark fixes this and makes it possible for your company to be perceived positively not only by customers but also from the potential employees.