Building Your Brand: The Legal Foundations for Entrepreneurs
Trademarks: What They Are and Why they Matter.
Based on the Oxford Dictionary definition a Trademark is a symbol, word, or words legally registered or established by use as representing a company or product (or service). It connects you and/or your business to the market with a simple logo, expression or catch phrase to name a few. It associates your brand’s identity and helps people link your items with quality and trust.
Why Trademarks Matter:
Legal Protection: Trademarks grant you the exclusive rights to use your brand’s elements in commerce relating to your industry and imposes limitations and more importantly recourse if others attempt to benefit from your mark.
Brand Recognition: A trademark allows customers to gain instant recognition with your brand‒ building trust and loyalty.
Business Value: A well branded and protected trademark increases your business valuation (in some instances being the most valuable asset of a company) ‒ making it more appealing to investors and partners.
E.g. Famous trademarks like McDonald’s golden arches or Nike’s swoosh have become symbols of their brands ‒ driving customer loyalty and market power.
How to Select a Strong and Distinctive Brand Name or Logo
When deciding on a brand name or logo you must go further than just creativity; the legal implications are also integral. A strong name or logo with distinctiveness offers more protection, while being easier to enforce and protect as a trademark.
Ideas and Tips for Brand Names:
- Distinctiveness: Try your best to avoid generic or descriptive names like “Best Body Lotion” or “Burger and Fries.” Instead, businesses should be aiming for uniqueness such as “Nivea” or “Wendy’s” respectively.
- Be Memorable: Choose a name that connects with your target audience and is easy to remember, spell or pronounce while also being relevant to your brand identity. Testing potential names with your audience if possible is a good strategy.
- Think about the Future: When selecting your name, be sure that it is resilient and versatile enough to grow as your business grows. Consider the path of the industry you are entering and how the name will age with time.
Ideas and Tips for Designing a Logo:
- Be sure that the design is clean and original. Make sure it is done with professional quality and you are in possession of the original design file.
- Stay away from common symbols and elements that may cause brand confusion and reduce your ability to trademark the logo.
- Keep it simple and versatile for use across various media and platforms.
Arbitrary and suggestive names like (Burger King or Lexus) are easier than descriptive ones to trademark, thus making them easier to protect.
Steps to Conducting a Thorough Trademark Search
It’s crucial to conduct a thorough trademark search to be sure your preferred brand name or logo is not already in use. A quality search may prevent expensive and lengthy legal disputes and ultimate rebranding costs.
- Search the USPTO Database: The United States Patent and Trademark Office’s online database is the first stop any business should make when looking for existing trademarks. The database allows visitors to search based on a number of criteria and is invaluable to potential registrants. (Canadian Trademark Office has a similar database)
- Check Search Engines, Social Media and Websites: See if your desired brand name is available as a website domain and on social media platforms.
- HIre an IP Attorney: Trademark attorneys perform detailed searches and are able to uncover subtle differences or similarities in potential marks and existing ones that may make the difference between a viable trademark or not.
Final Thoughts and Advice for Starting Their Brand Journey
Define Your Brand:
- Have a clear mission, and a clear vision and be sure all of them reflect your business’ values and intended brand ideals.
- Have a target market in mind and consider how your name/logo will resonate with them.
- Create a unique brand narrative that differentiates you.
Prioritize Early Legal Protection:
- Apply for registration of your business name and logo with the USPTO or appropriate jurisdiction.
- Start with your name, logo and catchphrases. These will be the IP assets most likely to be infringed.
- If possible, apply for the trademark before launching your brand. Rhe application alone gives a limited amount of protection.
Invest in Professionals:
- Find a trademark attorney for assistance with the ins and outs of trademark law to avoid pitfalls.
- Work with professional designers and artists if you have creative limitations.
Conclusion:
The steps above, while not a fully exhaustive list, if followed will assist entrepreneurs build a resilient brand to capture the essence of their brand, while covering the legal and marketing complexities it may face.
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