Whether entrepreneurs or private sector owners everyone struggles in finding a unique name for his or her new private label. A strong and practical trademark is necessary for any business.
Trademarks are the important asset of your business. It makes you stand out from the crowd during the competition. Remember, they are not for the business owners; in fact, the trademarks are for the public as most of the time we have little information related to the product.
But, how do you adopt a trademark that helps you in building your brand equity?
Worry not, because this blog goes right back to the essential tips on selecting the unique trademark for your business.
1. Be Precise About your Purpose
When you are selecting a trademark, ensure what your business is all about. You need to be accurate about the points you wish to convey to your audience/consumers.
The trademark you are going after should be distinctive and be complemented by the name of your company. The purpose must be clearly expressed through the trademark.
Cross check whether the trademark you are choosing does not collide with another company. If it becomes identical then a legal action related to copying will be taken.
2. The Trademark MUST be Distinctive
The United States has a law term stating “Spectrum of Distinctiveness” that says about the trademark being extraordinary. There are five categories falling under this law.
- Coined – made-up or imaginary words that would hold no meaning. They are considered to be very strong and of greater importance.
- Arbitrary – Factual words having no connection related to the goods and products. They are strong and can lead to a big impact on customers.
- Suggestive – Words that refer to goods indirectly but do not describe them fully. They are the brilliant option from the marketing standpoint.
- Descriptive- The words that indicate the quality and ingredients of the products. Descriptive trademarks hold very poor and weak value.
- Generic – One that’s the name of a product. Their value is totally worthless.
Initially, you might be tempted in trying out suggestive trademarks from a marketing perspective but coined and arbitrary are the sensible options.
3. Do a Trademark Investigation
After you have short-listed all the trademarks for your brand name, the next thing isn’t about spending dollars on the legal procedure. Instead, you thoroughly do an investigation for your trademark.
For a safer side, it’s always important to do a pre-filing search. Recognize if any other entity already has the trademark which is similar to your short-listed ones that you wish to agree upon.
4. Secure Social Media Accounts and Domain
The digital technology has made us aware that the businesses need to involve in maintaining the online presence. Use the trademark name of your company in creating your profile on social media accounts as well as the domain name.
Many marketing firms and PR consultants will assist you in claiming the trademark. But, a consultation with a trademark lawyer or attorney will help you in concluding further and look beyond.
5. Licensing/Registering Your Trademark
Once you have accomplished the goal of investigating the trademark, the next thing is to get it registered. This will give all the rights to the proprietor of the company to use the trademark for the goods and services they provide. If there are multiple products then go ahead and register different trademarks.
Whenever you are going to commence the new company right after its registration, give your trademark protection by licensing.
But there’s any sort of delay, then chances are you might not get the trademark you wish to have for your business.
6. Avoid Cultural and Linguistic Differences
Normally lots of companies launch their product in different countries. They sometimes forget to take in the due account of the people residing in who are from other countries.
Thus, it is vital to select a trademark that doesn’t reflect any cultural, racist or even linguistic differences.
7. Avoid TLA’s i.e. Three Letter Acronyms
There are many famous corporations like IBM, CNN who possess distinctive trademarks. Since their owners have funded billions of dollars in making them famous. If you can afford the money, even you can make a poor trademark famous.
But, in general, the TLA trademarks are very complex to remember. Similarly, you should also avoid using numbers so there won’t be any kind of confusion.
Trademarks are fundamental to any business. It can even lead adverse effect on to the business if they are not perfect. At times trademark can entrap you in legal issues.
The above mentioned are tips you should consider before continuing your trademarks. There are many laws and processes for the trademark which is not similar in other countries. Hence, it’s always advisable to discuss with a local trademark attorney.
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