A trademark is a design, term, or phrase that is used to identify and set one company’s products and services apart from those of another. It is a useful tool that aids businesses in safeguarding their reputation and brand identity. However, what precisely does a trademark defend?
By prohibiting others from using a mark that could lead to consumer confusion, a trademark offers legal protection to the owner. It grants the owner the sole right to employ the mark in connection with the products or services it denotes, as well as the power to sue anyone who violates those rights.
For instance, you would be violating Nike’s trademark rights if you started a business selling shoes using the name Nike. After years of brand and reputation development, Nike now has the legal authority to protect its name and logo thanks to its trademark.
So what can you do if you wish to use a trademark to safeguard your own brand? The United States Patent and Trademark Office (USPTO) website is where you may register your brand for the lowest cost. Depending on the kind of trademark you want, the price varies, but it often falls between $225 and $400.
Because they promote brand identification and loyalty, trademarks are valuable assets for businesses. A corporation with a strong brand identity has a higher chance of earning the trust of its customers and generating sales. Additionally, trademarks stop rivals from using marks that are identical to yours, which could confuse customers and damage your reputation as the original brand.
What happens, though, if you try to register a name that is already in use but not yet registered? It is doable, but it can also be expensive and complicated. To make sure the name is not already trademarked or being used by another company, you would need to conduct a comprehensive search. If the name is already in use, you might need to make arrangements with the other business to get their consent before using it.
In conclusion, trademarks safeguard a business’s reputation and brand identity by prohibiting the use of marks that could lead to customer misunderstanding. Even if the process of acquiring a trademark might be expensive, it is an important asset that can stay forever and support the development of brand recognition and customer loyalty.
Three main categories of trademarks exist: 2. Design Marks: These are trademarks made up of a logo, symbol, or other design element.
1. Word Marks: These are trademarks made up of words, letters, or numerals. 3. Combination marks: These are logos that incorporate both verbal and visual components.