Distinctiveness is also important for maintaining a valuable trademark. Over time, the distinctiveness of a trademark may diminish, and this has some serious backlash. If a trademark is used too much, it becomes a generic name for a product. This means the trademark holder has no litigation power if another company uses the product.
A trademark also refers to an entire trademark and not pieces that add up to a total trademark. According to the Paris Convention, a product cannot be trademarked if it:. For example, the words "dry" and "baby" can describe diapers, but on their own, they cannot be trademarked because they lack distinctiveness.
However, if you put the two together to form a brand called "Baby Dry," it would be a valuable trademark because of its distinctive nature. A trademark is valuable and flexible. Logos, symbols, words, and even colors can be trademarked. The only difference is that the trademark cannot affect the good at hand. For example, you couldn't trademark tinted glasses because the tint directly affects the product. There are three possible trademark categories in terms of intellectual property :.
Because a trademark registration can take nine months to a year, it's important to start early. To apply, simply enter your application to the U. Patent and Trademark Office. You'll have to select a class on your application. However, their website allows you to type in your business to achieve a class number to file.
Accepted trademarks have the protection of the law for 10 years. There's no limit to how many times you can refile. Company name, logo, and symbol all must have separate applications. If you only have the means to file one, make sure it's a standard character claim. This asserts your trademark covers a company name no matter what font is used. If that does occur, a business will be forced to deal with altering all it came up with, such as the campaign, website material, and to a large extent, their brand identity.
By registering a trademark, a startup would protect itself from another company using their name as well as from imitation of its products or services. A trademark is permanent, with a need only for periodic renewal. Consider the aforementioned behemoth companies of Pampers and Jacuzzi; they have been power-houses in their respective domains for decades and will continue to thrive for decades to come. Therefore, it is wise to use the services of a renowned Intellectual Property service provider with a good reputation.
It can act as a catalyst for increasing value as a startup business matures, more so, if the startup continues to expand. Thus, it is important to use a trademark for marketing strategies to aid the enhancement of brand recognition and to draw in more consumers.
Once a startup has attained positive repute for its product or service, consumers will associate its trademark with how the business is running. Trademarks are significantly beneficial when a business wants to:. Think of the legal carnage that would ensue; people would be fighting tooth and nail to be able to profit from the empire of success that surrounds their trademarked brand. Moreover, if a business has a trademark attached to its brand, it informs the world and competitors alike that they have faith in the success of their business and that they have something worth stealing.
Going the extra mile by registering a trademark for your business shines a different light on you in the eyes of your target consumers. Being even the littlest fish in the tiniest pond as a startup is super tough. Trademarking a brand allows for a newly budding firm to cushion the blows from the market by wearing a protective blanket; it both directly and indirectly informs others that the brains steering the business, mean business.
Registering a trademark should be a top priority when a startup is being established. It will protect a business from the get-go, enabling its success in the long run. It is important to secure a startup at the very beginning in order to gain an advantageous position and to circumvent financial loss in the future. O verwhelmed or confused? Contributors Profiles. Brett Melson. What is a trademark? HBS Blog Home. Facebook Twitter Linked In. Subscribe to HBS Blog. Stanley Thomas said: Saturday, March 20, I liked the blog, it showed me what is in name of a company"Trade mark" and how to find the source for the products and to find customers.
HBS Staff replied: Monday, March 22, Hi Stanley, Thank you for you reading our article and we are glad you found it to be helpful and a good resource.
Dennis White said: Tuesday, January 26, Yes, there are multiple benefits to getting a trademark. Recently I also registered a trademark for my company name HBS Staff replied: Friday, January 29, Dennis, glad to hear this article was helpful to you.
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