![]() ![]() Businesses need to always be wary of imitators or counterfeiters who may attempt to confuse consumers by using a name identical or similar to yours – the more successful you are, the more liable you are to encounter such a situation. Once you successfully register your trademark, you’ll have broad protections from any possible infringement by others, intentional or not. You protect yourself from others profiting from your name You also prevent wasted time building brand equity that may be lost if you’re forced to change your business name. By researching and registering your trademark, you ensure that you won’t unknowingly conduct business in infringement of an existing mark, potentially exposing yourself to being liable for damages. As you continue through the process of your trademark application, an attorney from the United States Patent & Trademark Office will also review your requested mark to ensure that there are no possible conflicts – if so, your application will be refused. This important first step toward a registered trademark that prevents you from infringing upon any existing trademark. ![]() The first step in submitting a trademark application is conducting research to make sure that the name you want to use – or one similar to it – isn’t already in use in your industry (or one related to it). You ensure that you’re able to use your business name There are several reasons why trademark registration is smart step for a business owner to take – let’s explore what they are. The simple answer is that most of the time the $1,000 it takes to register a trademark is well worth the expenditure. These business owners may ask themselves if the time, effort, filing fees, and attorney fees are worth it. Often, in the interest of the latter, owners will take stock of the costs and benefits of every expenditure, and may wonder whether a trademark for their business name is really necessary. As an entrepreneur, you know that it’s important to be concerned with every aspect of your business, from your product or service to your brand to your balance sheet. ![]()
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