Many startups are strapped for cash, so cutting costs wherever possible seems like a good idea early in the game. One place startups should not cut costs too much is when it comes to protecting their intellectual property rights. Intellectual property rights, such as trademarks, grant exclusive protection to the intellectual property owner so that no one is able to use that intellectual property without the owner’s permission or a license.
Trademarks can be registered federally with the United States Patent and Trademark Office, and so long as the trademark is eligible to be given trademark protection and no one else is using the same or similarly confusing mark in the same line of business as your startup, you are likely to get your federal registration of your trademark. Below are five reasons why startups should invest in federal trademark protection.
Trademarks Are Your Brand
A startup’s brand is what customers come to identify with the company. A trademark is a symbol, word or picture that you associate with your business or product. Over time, your customers will come to identify you and your business with your trademark. If you do not obtain federal trademark protection for your startup’s trademarks, others could steal your mark, or use a confusingly similar mark to trick your customers into thinking they are getting your product.
Federal Trademark Registration Stops Disputes In Their Tracks
Once your trademark is registered, it is entered into a database of searchable trademarks. Competitors or others who are thinking about using your mark could find your mark in the federal trademark database and realize that they need to choose another mark.
Federal Trademark Registration Is National Protection
Once your mark is federally registered, you will have protection for your trademark across the country. Additionally, the Trademark Office will also prevent confusingly similar marks from issuing after your mark has been registered.
Federal Registration Means Litigating In Federal Court
Having federal trademark protection means that if you have a dispute with another company over you use of your trademark, your case can be brought in federal court. Federal registration enables you to seek damages, injunctions, and other forms of recovery.
Federal Trademark Registration Is Attractive to Investors
Startups are always on the hunt for investors, and investors are often enticed by startups that hold intellectual property rights. By obtaining federal registration of your startup’s trademark, you are demonstrating to investors how seriously you take your company, products and brand.
If you have questions about obtaining federal trademark protection for your startup, do not hesitate to contact Parsons & Goltry online, or by calling 480-991-3435.
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