Unless you get a trademark, any idea, concept, or unique branding you have can be freely stolen by your competitors, and this is the last thing you want to happen. After all your hard work, time, and money spent on your branding, it’s easy for another small business or even a multinational corporation to copy what initially belongs to you. That’s why small businesses need a trademark like any other size and type of business.
What Is a Trademark?
A trademark falls under “intellectual property,” which is also the umbrella of patent and copyright. It has unique characteristics that employ to your product, so consumers can easily recognize it.
As contrary to popular belief, it does not only apply to international brands. Now more than ever, small business owners should protect their intellectual property rights by applying for a trademark. There are many good reasons why small businesses needs it. Let’s find out!
Importance of Trademark to Small Businesses
- Official Registration for Your Small Business
Regardless of the size of your business, you need to ensure that you have a grasp of trademark information for small businesses which will help you prevent major facing problems in the future. Trademark litigation lawsuits are expensive and complicated, which can deplete time, effort, and resources. If you don’t want to undergo through the stress and hassle down the road, better start considering getting one for your small business.
- Brand Identity Protection
As early as conception, you protect your brand identity, so you solely and exclusively use any concept, packaging, or logo you create because you own it or have a trademark for it.
The reasons why you need to create one and a business branding are as follows:
- Your business gains instant brand recognition.
- Create a harder to copy distinct logo because trademarking requires strict design.
- Your trademark logo, symbols, or branding becomes a core foundation and image of your business.
- It will stop your competitors from imitating your brand.
- It offers some degree of protection against reputation-damaging copycats. Similar to protecting consumer data, you also need to protect your intellectual property rights.
- Use a Trademark Designation for Your Products
The Trademark or Service Mark designation notify other businesses about the common law claim of your small business to those brand names, symbols, or logos. It means that your competitors cannot steal those from your small business, which are the results of your brand building and hard work.
Steps in Getting a Trademark
While many recognize the value of a trademark in a business, there are still some small business owners who are deterred from getting one because of the notion that the process is complicated. In reality, the process of obtaining it is straightforward.
Here are the steps:
- Do Your Homework
Research about your prospective trademark item. You can check the searchable database of the United States Patent and Trademark Office or USPTO to confirm if there is any similar idea trademarked by other businesses.
- Apply for a Trademark for Your Business
Apply for federal trademark protection through the website of USPTO for an online application. At this point of your application process, a fee shall be assessed. When filing for a trademark with the USPTO and U.S. Patent, the requirements include:
- The trademark should be applied for your name as the small business owner.
- You need to specify the type of business entity (e.g., individual or corporation) and your national citizenship.
- The application should be based on the actual use or the real intent of use of the trademark.
- Include all the products you are selling with the trademark as well as the services that are also used. It should be in good faith that you are planning to use the trademark in commerce.
- Wait for Approval
You will have exclusive legal rights once your application has been approved. Of course, you can use the symbol for a registered trademark. If ever that your application is denied, you can appeal the process to USPTO.
Conclusion
Your small business is the start of your journey as an entrepreneur. That’s why you need to make it right decision the first time. By complying and taking appropriate steps such as trademarking, you are protecting your business and yourself from the possible issues and pitfalls of the industry.
