3 Reasons You Need a US Trademark
If you are serious about growing your business, then you need to prioritize the acquisition of a United States trademark on your business name and related branding.
There are three compelling reasons why securing a trademark is critical to the current and future health of your operation.
First, your trademark will serve as a primary element in any future expansion of your business such as when you add a partner or new location, and especially in instances of franchising and licensing. In addition, a trademark immediately gets listed as an asset on your balance sheet and positively impacts business valuation.
Second, trademarks are highly sensitive to the date of your filing with the United States Patent and Trademark Office. Your filing date serves as an important anchor in time. The sooner you file, the sooner you can begin boxing out confusingly similar competitors and thereby further entrenching your brand and strengthening its position in the marketplace.
Finally, a trademark can serve as a powerful offensive weapon, as the federal government has assigned severe penalties for trademark violation. By securing a trademark, you can oftentimes bootstrap the claim of trademark violation into seemingly unrelated business disputes in which you may be engaged.
A good example is professional rating sites that often create a profile for you without your knowledge. When you discover that your profile exists, and further that it contains inaccurate or unflattering information about you, many of these sites are slow or completely unresponsive in making the changes you request. However, a nasty letter from your lawyer alleging trademark violation can instantly change that attitude.