When does it make sense to invest in trademarks?
You might know what trademarks are in a general way, but do you know when you should invest in them?
This is a question that might not have a clear answer if this is not your area of expertise. If you need to find a trademark attorney, Melbourne is one place where you can locate several reputable ones.
Before you reach out to one, though, let’s talk about when investing in trademarks makes the most sense.
What are trademarks?
First, let us go over the term “trademark” so we can be sure you know what it means. Trademark refers to words, a word, or a symbol. When you legally register any of those things, you are certifying that they represent a product, company, or individual.
When we’re talking about trademarks, what we’re discussing is intellectual property. If something is your intellectual property, no one else can use it without your permission. If they do, then you can bring legal action against them.
Do you have unique products or services?
Let’s say that you offer a certain product that’s unique. Your company is the only one that makes it, and you want to retain ownership. Alternatively, you might offer a service. That service is different from what anyone else in your niche or outside of it provides.
At that point, you’ll want to consider investing in trademarks for each of those unique products or services you offer. You might also trademark a logo that identifies your brand.
Once you do so, everything that you’ve trademarked becomes your intellectual property. You’re the only one who can use it, so you benefit financially when you do.
What happens if you don’t trademark something you created?
Think about an iconic brand, like the McDonald’s fast food chain. They trademarked the iconic Golden Arches that they use on their signs many years ago.
If they had neglected to do so, a competitor could use that image and benefit financially. This same thing can happen to you if you don’t bother to trademark your company’s name, the logo you created for your business, or any unique products or services you offer.
How do you trademark something?
Even if you’ve got a very small company and not much money, it’s still smart to trademark anything that you created and want to retain as your intellectual property. That protects you from anyone who wants to poach what you made.
There’s a bit of good news, though: trademarking something doesn’t usually cost all that much. All you must do is fill out a form at the Trademark and Patent Office and pay a small fee.
You might not be thrilled about paying that fee, but you’ll be glad you did if what you created suddenly becomes wildly popular. It can happen. Remember that no company starts off as a huge conglomerate. They all start small and work their way up the ladder.
Trademarking what you created is always a wise idea and is a relatively easy thing to do.