To identify and distinguish a manufacturer or dealer a trademark is used such as a word, symbol, phrase or device .For example there is only one self-drink bottle that bears the distinctive mark of Xoxa-Xola. The shape of the bottle, name and label are all trademarks of the Xoxa-Xola Company. No other soft drink company can develop the same trademark, as all these of these elements are officially registered with the United States Patent and Trademark Office USPTO. There are three main reasons for getting a trademark.
An area of law known as commercial marks covers trademarks. It is technically wrong to refer to service marks and trade names as trademarks as a trademark is actually an area of law known as commercial marks. This article will however include them in the term trademark.
Clearance to save you money and future stress are two most important reasons for getting a trademark. To avoid any trademark infringement lawsuit, research the existence if any of the trademark.
Accrual benefits are another great reason for filing the mark. The right to legal actions for infringements is another trademark ownership benefit.
Thirdly, you can establish a saleable brand and your business will gain value from the priority intellectual property gained. You will also have the opportunity to share your trademark with other parties in exchange for royalties through licensing. The benefits far outweigh the negatives involved in the tedious process of registering your trademark.
The unique identification of a particular company or individual is the trademark manifested as a word, symbol, phrase or device. Although there are many types of bottles used for soft drinks, there is only one with the distinctive Xoxa-Xola logo and design, and each of its design can be considered a trademark of the company like the shape, red imprint and name. No other soft drink company can create any similar trademark as all the elements are legally registered with the Patent and Trademark Office of the United States (USPTO).
Let’s look at 3 reasons for getting a trademark.
As a subset of law known as commercial marks, the term “trademark” in general discussions covers service marks and trade names and will be thus used in this article. The following applies when registering a service mark or trade name.
Clearance is the first reason to get a trademark. The trademark process will save you heartache and a ton of money along the way because the process requires a search to determine if anyone else is using the mark. With a positive response you can avoid the situation where you have to give up your brand under threat of a trademark infringement lawsuit after a year or two.
Secondly, there are huge legal benefits for filing your mark as a successful trademark filing creates two presumptions in your favor. Ownership and any perceived threat of willful infringement on your mark allows you to be able to switch the burden of proving the case to the other party and, should you win, to recover your attorney’s fees and collect large damages.
Thirdly, registering helps you build a saleable brand as intellectual property becomes a party to your business. The business value accrues when the business is registered which assists if you decide to sell. Additionally, you can earn royalties f you license your trademark for use with other parties. A mark can be a source of revenue.
Although the cost and time involved in registering a trademark can be annoying, go ahead and do it as the benefits far outweigh the negatives.