Inventing and protecting trademark is the key to your business success. They define who you are and what you do. Your trademark’s safety is easier than you think. Brand is an important part of the company’s intellectual property. However, if you are like many small business owners, you may not know exactly what a trademark is and how to protect it. A trademark is nothing but a word, phrase, symbol used to describe your business and make it stand out from the competition. If basically makes you different from others.
Many business owners believe that by starting a commercial business in their state, they are also getting a trademark for their business. This is not entirely true. By creating a business unit, you acquire certain government trademark rights in your company name. Your state will not allow you to create another company with the same name. There are more important things about the trademarks that you must know in order to succeed in your business. You will get to know all about trademark and its importance in this article.
Main benefits of Trademarks
Let’s start with the main advantages of trademark:
- Obtaining an exclusive right – no one, except you or without your permission, can use the registered designation in relation to the goods or services specified in the registration.
- Possibility of concluding licensing agreements – getting additional profit.
- The possibility of increasing the authorized capital of a company – a registered trademark of a company or organization can be assessed and contributed to the authorized capital.
What is International trademark registration?
International trademark registration is a system in which one application for trademark protection can be filed at once in 116 countries. Such a system simplifies registration, but does not provide trademark protection all over the world at once.
How much does it cost to get a registered trademark?
Registration of a trademark is a process that requires investments. However, investing in the acquisition of intellectual property, the company gains much more, because in the fight against competitors, you can lose much more. It is possible that a company operating with an unregistered mark may receive well-founded claims from the legal owner of a similar mark. Moreover, the organization initially may not even suspect the existence of a similar registered mark, but this does not relieve it of responsibility. To avoid this kind of situation, the trademark must be registered.
Registration cost is calculated individually in each case. For the commission of legally significant actions, there is a state fee, and if the applicant uses the services of a patent office, then the lawyers are paid separately. Let’s take a closer look at what procedures and what amount you need to pay in order to get your trademark:
- Registration of the application, formal examination and decision-making based on its results could cost you $35 – $50. The payment document is presented along with the application materials.
- Examination of the designation declared as a trademark and making a decision on its results may cost you around $200.
- Registration of a trademark and issuance of a certificate for it may cost you $300.
- The trademark watch service cost is surprisingly low. You can monitor a trademark for under $500 worldwide.
Thus, the minimum cost of registering a trademark would cost you somewhere around $500. It is also worth mentioning that fees are also charged for changing the application, making changes to it, and considering objections based on the results of the examination. In addition, the fee is also paid for extending the validity of a trademark certificate and the cost to get it done could be $250 – $300. Let us remind you that the right to a trademark is valid for 10 years, after which it can be extended for another 10 years.
Is it possible to register a trademark for an individual?
The law prohibits the registration of objects of commercial property for individuals. If a citizen without the status of an individual entrepreneur submits an application, a refusal will be received. In order to get a trademark as an individual, you first need to register for entrepreneurship.
What does the registration of a trademark give?
As a result of the successful registration of a trademark, the applicant receives a certificate for the trademark, the presence of which provides state protection of the exclusive right to use the object that is registered as a trademark. This means that for any unauthorized (not properly coordinated with the owner of the rights to a trademark) use of this object, the infringer may incur administrative or criminal liability.
What can be registered as a trademark?
You can register the name, phrase, logo, slogan and even the domain name of your product as a trademark. To obtain exclusive rights to a trademark, you need to file an application for registration to the patent office. A trademark can be registered by legal entities or individual entrepreneurs as mentioned above.
What are the differences between Trademark and Service Mark?
Trademark is used in relation to products (goods). Service mark refers to and is used as a designation of works and services.
Trademark (TM) is a marketing complex that includes a name, term, image, symbol or their combinations that distinguish a product from a series of similar ones, informing the consumer about the source of its origin (manufacturer). Only after state registration the brand becomes a Trademark, acquires legal status and legal protection. No one can use it without the permission of the copyright holder. For violation of the law, civil and criminal liability is provided.
What are the consequences of using an unregistered trademark?
The law does not oblige an entrepreneur who has created his unique brand to register as a trademark. Lack of legal protection entails negative consequences for the owner himself.
- Nothing prevents competitors from producing goods of this type, similar packaging, which takes away some of the buyers.
- Low-quality products created by other companies cause reputational losses.
- Anyone can register a trademark as their intellectual property and prohibit the author from using it.
In addition to the irretrievable loss of the trademark, the creator may find himself in the situation of a defendant for its illegal use, pay fines and legal costs. Under any circumstances, this weakens the competitiveness of the business and entails financial losses.
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