I have written and spoken before about how trademark registrations are more valuable than ever today because of the benefits they provide.
As the world now confronts the coronavirus COVID-19 crisis, and the economic ramifications, a trademark registration is even more valuable.
Why? Because the impact of having to spend money and/or time on defending a trademark claim, or on changing a brand name, is even greater when a business is in crisis, managing cash flow difficulties and complex ramifications for customers, employees, operations, and much more.
A trademark registration is the foundation of protecting a brand and always tremendously valuable, for multiple reasons:
- Trademark registration records appear in USPTO TESS searches 24 hours a day, 7 days a week when others are clearing name.
- Having a trademark registration is a valuable tool in making a complaint regarding a social media username infringement with Twitter, Facebook, and other sites.
- Trademark registration can help block a domain name from being used.
- A trademark registration can be renewed forever provided the mark is still used in commerce.
- Use of the ® registration symbol help shows customers the value and protection of the brand.
- Obtaining a registration may be more difficult, given the sheer number of existing registration (more than ever before); so successfully completing the registration process is certainly valuable.
- Trademarks are more frequently recognized as valuable and separate assets in a business’ portfolio. A trademark registration is a separate tangible asset that can be transferred, licensed, or assigned a value on a balance sheet.
- The internet has lowered the barriers to starting a new business. More people are starting businesses, whether as their primary job or on the side, than ever before. Finding a good and protectable brand name is becoming increasingly difficult. Those who have protected trademarks are in general in a clearly better position than those who do not.
- Brands are more prevalent in all aspects of our lives – online and in person – than ever before. Our culture is more obsessed with brand than ever before.
- And now, in a time of crisis, the risk of having to spend time and money defending a trademark dispute is more costly. Having a properly protected trademark helps minimize that risk.
- In addition, more consumer and business traffic than ever before has moved online. Proper trademark registration makes protecting a brand online – on social media, Amazon, and elsewhere – much easier and more effective.
For these reasons and more, a trademark registration has never been more important or valuable, especially for small businesses.
© 2019. Erik M. Pelton & Associates, PLLC. All rights reserved.