Companies introducing brands with unique names, logos or slogans may apply for trademark protection. Registering a trademark could help prevent infringement and copycatting. Forbes notes that by registering their trademarks, the owners have the “exclusive” right to use them while selling their products or services.
When companies protect their brand identity, it could become difficult for competitors to copy the registered products and services. If a rival does create a copycat brand, the owner of a registered trademark may have options for a legal remedy.
Legal protection when needed and promoting goodwill
Registered trademarks could help prevent lawsuits. Companies that intend to sell similar products or services may wish to avoid becoming a defendant in an intellectual property lawsuit.
Trademarks could also help build credibility, trust and goodwill in the marketplace. If other companies hope to sell a brand-name product or service, they often need to first obtain permission from the trademark’s owner. Obtaining consent to use a registered trademark may launch a valuable business partnership.
Trademark application considerations
Registration applications typically require a description of a distinctive trademark, logo or slogan. Money.com notes that all applications go through a review process. Rejected submissions do not receive application fee refunds.
Before applying, business owners may benefit from searching the database of registered trademarks and brand names. Filings of similar trademarks may show up. Applications need to include details describing what makes a potential trademark unique.
Customers express their appreciation for a company’s products or services through repeat purchases and word-of-mouth referrals. A wide range of highly successful companies have helped build their notable brand-name loyalty through their registered trademarks.