Any business must have a trade name, commonly referred to as a business name or brand name. It is the name by which a business conducts business and is known to its clients. Many entrepreneurs are unsure if a trade name is protected by intellectual property. A trade name is a type of intellectual property, so the answer is yes.
Any work of the human mind that is legally protected as intellectual property. Symbols, names, images, designs, and literary and artistic creations all fall under this category. The three basic categories of intellectual property protection are copyrights, patents, and trademarks. Trade names are considered to be trademarks.
A trademark is any indicator that distinguishes the source of one party’s goods or services from those of other parties. It can be a word, a symbol, a design, or any combination of these. A trademark that identifies a company is a trade name. It is crucial to understand that a commercial name differs from a legal business name. When a business entity is created, its name is registered with the government as its legal business name.
How then can you safeguard the intellectual property that is your trade name? The solution is to apply for a trademark for it. When a trademark is registered, the owner is granted the sole right to use it in connection with the products or services it stands for. This means that nobody else in the same business may use a trade name that is similar to or identical to yours. Although registering a trademark can be a time-consuming and expensive procedure, it is necessary to protect your company.
How to free patent a name is another frequently asked subject. Regrettably, there is no free way to patent a name. Patents safeguard inventions, not individuals. However, a name can be trademarked for a charge. The cost to register a trademark with the United States Patent and Trademark Office (USPTO) varies based on the type of trademark and how many classes of products or services it covers.
Business owners may also wish to copyright their name and logo in addition to trademarking their trade name. Original works of authorship, such as literary, artistic, or musical works, are protected by copyright laws. A name and a logo may qualify as artistic creations and be covered by copyright. A copyright can be registered for less money and with less hassle than a trademark.
Finally, a common query is whether trademarks expire. Trade names do not expire, so the answer is no. The trade name is perpetually protected so long as a company uses it and renews its trademark registration. However, a company could lose its exclusive rights to the name if it stops using its trade name for a predetermined amount of time.
To sum up, a trade name is a type of intellectual property that can be secured by filing for trademark protection. With a trademark, you have the sole right to use the term in connection with the products or services it stands for. Additionally, business owners might wish to think about copyright protection for their brand name and logo. As long as they are used and the trademark registration is renewed, trade names remain in effect.
A firm may use a name or symbol to distinguish itself from the goods and services it offers as a registered trade name. Given that it sets one company’s products or services apart from those of another company, it is a kind of intellectual property that is legally protected. If a trade name is registered, it means the owner has the sole right to use it in connection with their firm and that it has been recognized by the government.