A company’s trademarks, whether in the name or likeness of the company, or that of its products, are crucial to protecting the goodwill generated through its investment in people and capital. It is important to your brand as it helps identify and protect the integrity of a brand and ensures that the business stands apart from its competitors. The trademark also easily informs the consumer that the goods or services are of a certain quality or standard. The goodwill derived from a strong brand can improve business by giving the consumer a positive impression of the product and doing business with the company itself.
Trademark rights arise from the actual use of a name, logo, or symbol in the marketplace. There are several actions a company can take to protect its brand portfolio, namely its trademarks, service marks, unregistered trademarks, domain names, and related copyrights.
A first suggestion is to develop a strategy to determine which trademarks are important and how, where and when trademark rights should be enforced. This action includes determining which legal jurisdictions are important from a business and marketing perspective. Once a trademark attorney has conducted the necessary trademark searches and approved a proposed trademark, it is a good idea to quickly apply for a federal trademark registration. The timing of an application for registration is also critical because the first to file usually takes precedence over subsequent filings with respect to identical or similar marks. Once the proposed mark is registered, it is important to note the date of registration and the date of renewal to ensure continued protection of the mark.
Another action is related to the use of the registered trademark. In managing a trademark portfolio, it is important to ensure that rights do not expire due to non-use of the trademark. Depending on the relevant jurisdiction, proprietary rights to a trademark may expire if the trademark has not been used for a period of three to five years. It is important to implement programs based on the advice of a competent attorney to ensure continued use, or at least seasonal or rotating use of trademarks to avoid cancellation or revocation of trademarks. It is also advisable to ensure the correct use of trademarks because they can lose their distinctive character and value if they are eroded.
A recommended strategy for maximizing the value of a trademark portfolio is to be vigilant and take prompt action to prevent or deal with infringement accordingly when detected. A trademark portfolio owner must be prepared to take action to preserve rights using both defensive and offensive strategies. Defensive strategies, including marking products with the TM, SM, and ® symbols, can help reduce legal fees and establish legal damages through fair warning to potential infringers. Defensive tactics also include conducting constant surveillance of the market and the activities of competitors, and educating the consumer on how to identify genuine products, as well as alerting them to infringing products.
Numerous offensive strategies are also recommended. For example, a company can appeal or oppose the registration of marks that are identical or confusingly similar to its own marks. It is also advisable to issue cease and desist letters, or post warnings when a violation is detected.
In carrying out these actions, it is advisable to seek the best legal advice regarding the management of the trademark portfolio itself, as well as to determine the instances and nature of the possible infringement. Leading trademark attorneys are also effective advocates who can provide advice on how to deal with an infringement, through amicable resolution or enforcement action if necessary.
Therefore, choosing the best law firm that is qualified to provide sound legal advice on matters related to trademarks and copyrights is a critical issue for any business venture. Good advice can mean a strong brand name in the marketplace that serves to protect capital investment and deter infringement by competitors. The alternative is erosion of goodwill with customers and easy infringement. The latter can mean the loss of a human and financial fortune.