Everything You Should Know about Trademarks in Business
When you first hear the word ‘trademark’, it might conjure up images of scary old patent offices and foreign-sounding words like ‘intellectual property. But for businesses of all sizes, the potential for confusion and risk is great. Because what’s a trademark? If you operate a company with multiple business divisions or locations, it’s important to understand exactly what kind of impact a trademark has on your business and its competitors. A business that doesn’t properly understand the terms and conditions of its relationships with third parties will be in danger. Here’s everything you need to know about trademarks, how they work and what your chances are if you infringe upon them.
What is a trademark?
A trademark is a registered description of your business that identifies your business as different from other firms in the marketplace. Trademarks are related by way of ownership or control and can help protect your business from infringement. A trademark is not a thing that you own.
What do a trademark look like?
A trademark is essentially a miniature book that a company owns that indicates the business’ identities, brands, and products. The book contains information about the business such as the address, telephone numbers, website, and maybe even images. When a third party buys the copyright to a published book containing the trade dress of a business, that third party is allowed to use the trade Dress anywhere in the world that has a telephone or Internet connection.
Who can use a trademark?
For example, if you are a software developer who designs and programs products that contain a brand name like Microsoft, you could use that name in your application for a job. Or you could use a similar design found on another company’s website to indicate that you are their customer.
How do I know if my trademark is valid or not?
First, you must have a valid trademark license. For a valid license to be valid, you must: Be a U.S. or U.S. federal directory business and be subject to continuous, substantial, and/or substantial expansion of your existing markets Have a market capitalization of at least $50,000 Use at least one design or mark that is different from the rest of your company’s marks
How to use a trademark (and how not to)
A trade dress is a material or design that makes your business distinguishable from other firms in the marketplace. It can be the logo that identifies you as a company or the materialistic art that identifies your products.
A trademark is a small piece of legal documentation that identifies your business as different from other firms in the marketplace.Keep in mind that a single infringement of a trademark could lead to big fines or even jail time for the infringer. If you’re unsure whether or not your PIN matches the design or mark of another company in the marketplace, it’s probably worth a shot. The potential for confusion and risk is great, but so is the potential for a big boost in sales if you figure out who to sue.
How do trademarks work?
There are a number of reasons a trademark can be used to protect your business. The most obvious being that it helps protect your image as a company. Trademarks are also often used to protect your name and brand. When someone purchases your business, they’re giving you permission to use their logo and name in connection with their business. Your logo protects your brand name and helps distinguish your business from other companies in the same industry.
What happens if I register a trademark?
Once you sign a Trademark contract, the first step is to file a Trademark Application. A Trademark Application is a written statement outlining the nature of your claim, how much you’re willing to fight for it and the steps you will take to prove it. During the application process, you’ll need to sign a statement acknowledging that you’re a current or former director, officer or employee of the registered company. And you may also have to sign a document acknowledging the ownership of the registered company. Once you’ve filed your Trademark Application, you may be required to pay a fee to the court. Once the court approves your application, you can begin the legal process.