It is not an exaggeration to say that you must stand out to succeed. Whether you’re an entrepreneur or an artist, your creations are nothing without the proper branding and marketing strategy. Having a catchy name is a must-have for your business if you want people to pay attention to you.
If you’re starting a new business, then it’s essential to trademark your name as soon as possible. It’s not just a matter of legality; it’s also one of branding. You can use this as an advantage to promote your brand and gain the trust of your audience.
So, what’s a trademark, why is it important, and how do you trademark your business? This article explains everything you should know.
What Is A Trademark?
Trademark is a form of intellectual property protection that lets you protect your brand and products. If someone else starts selling the same goods or services under a similar name, they infringe on your trademark rights. Trademark also applies to any word, symbol, or design that identifies your product.
When you apply for a trademark, on a trademark engine, you’ll be given an official certificate showing your rights to the mark. This certificate proves that you own a trademark and gives you legal protection against infringements. You can also use it to register your brand as part of a more expansive intellectual property portfolio.
Why Trademark Your Business Name?
When you trademark your business name, you’ll gain many benefits. These include:
- A Higher Chance Of Success In Business
Trademarking your business name gives you a greater chance of success. That is because the mark acts as an identifier for your company and helps to build brand awareness. Customers will know who you are and what products or services you offer when they see your name.
- More Protection Against Competitors
Trademarking your business name provides you with more protection against competitors. If another company begins to use similar products or services and begins to compete with you, they’ll be unable to use your brand name in any way. It helps prevent confusion among consumers and damage to your business.
- Increased Trust From Customers
When you trademark your business name, it helps to build consumer confidence. It is especially true if you’re in a service industry where people are more likely to be influenced by word of mouth. Trademarking your name can help ensure that no one else is using it, making customers feel safer when they purchase from you.
- More Power Over Your Brand
Trademarking your business name gives you more power over what can be done with that brand. If someone else begins to use your name or logo, you can sue for violating your trademark rights. They’ll need to stop using the mark immediately or face legal action.
- Additional Remedies In Court
When you sue someone over trademark infringement, you have additional remedies available. You can ask for an injunction that will prevent them from using your mark in the future. It means they’ll need to stop using it and other associated marks. You can also get money damages if they’ve caused you financial loss with their actions.
- More Opportunities In The Marketplace
By trademarking your name, you can take advantage of the fact that customers will see it as a mark of quality. It means that if someone is considering purchasing from you, they’ll be more likely to do so if they know your brand is protected by law. You can also use your mark on other products in the future without getting into legal trouble.
- Increase The Value of Your Company
If you’re looking to sell your company in the future, a trademark can make it more valuable. You’ll be able to prove that there’s a brand associated with your business and that it’s been around for some time. It will help potential buyers feel confident that they won’t have any issues selling their products under the same name later.
How To Trademark Your Business Name?
If you’re ready to trademark your business name, there are a few things you’ll need to do. These include:
- Answering A Few Questions
You’ll need to answer a few questions about your business, including its history and whether it’s currently operating. If you’re starting a new company, you’ll also have to provide some information about the products and services it offers. It can help make sure that you avoid accidentally trademarking two different companies or confusing them with each other.
You’ll also be asked for information about what products are associated with your brand and how long they’ve been on the market.
- Check If The Name Isn’t Registered
If you want to trademark your business name, it’s essential to ensure it isn’t already registered by someone else. You can search the Trademark Electronic Search System (TESS) database. If there are any listings with the same or similar names as yours, save them for later so you can check them out in more detail.
- Creating A Business Name
Once you’ve determined that your business name is unique and hasn’t been registered by someone else, it’s time to create your brand. Your brand is what customers will think of when they hear or see your company’s name.
For example, if you’re selling organic food products, people might associate the words ‘natural’ and ‘healthy’ with your business. Remember that it’s also essential to make sure that the name is easy for people to pronounce, spell, and remember.
- Apply for Registration
Once you’ve created your company’s name and logo, it’s time to apply for registration. You can do this by filling out the appropriate forms and sending them in with the required fees. After your application has been processed, it will be published in a government gazette distributed throughout the province or territory where you’re based.
This publication will let people know that someone is using the name they want to use for their business.
- Filing An Amendment If Necessary
If you find that someone has already registered your name, you have the right to file an amendment. It will allow you to use the same name but with a modifier in front of it, such as ‘Canada’s’ or ‘International.’ You can also choose another name similar but not identical to the one already registered by another business.
Conclusions
The trademark is your identity and uniqueness in the market. It’s a sign of quality and credibility. It can also be a barrier between you and your competitors, especially if they use the same name or one similar to yours. Serious businesses need it, and so do you. The major challenge is that if you don’t have one, you could be putting your business at risk of losing customers to other businesses that have added the mark.
