A company’s trademarks, whether in the company’s name or image, or 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 to identify and protect the integrity of a brand and ensures that the company distinguishes itself 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 trademark can improve business by giving the consumer a positive impression of the product and by 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 that a company can take to protect its portfolio of brands, namely its registered trademarks, service marks, unregistered trademarks, domain names, and corresponding copyrights.
A first suggestion is to develop a strategy to determine which brands are important and how, where and when brand rights should be enforced. This action includes determining which legal jurisdictions are important from a business and marketing perspective. Once a trademark attorney has performed the necessary trademark searches and approved a proposed trademark, it is advisable to quickly apply for a federal trademark registration. The timing of an application for registration is also critical because the first to file generally takes precedence over subsequent filings for identical or similar marks. After the proposed trademark is registered, it is important to note the registration date and the renewal date to ensure continued protection of the trademark.
Another action relates to the use of trademarks. When managing a portfolio of brands, it is important to ensure that the rights do not expire due to non-use of the brand. Depending on the relevant jurisdiction, proprietary rights in 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 lawyer to guarantee the continuous use, or at least a seasonal or rotating use of the marks to avoid the cancellation or revocation of the same. 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 to maximize the value of a portfolio of brands is to be vigilant and take swift action to prevent infringement or deal with it accordingly when detected. The owner of a portfolio of brands must be prepared to take steps 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 by providing fair warnings to potential infringers. Defensive tactics also include constantly monitoring the market and competitor activities, 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 may appeal or oppose the registration of trademarks that are identical or confusingly similar to its own trademarks. It is also advisable to issue cease and desist letters, or post warnings when a violation is detected.
When taking these actions, it is advisable to seek the best legal consultation regarding the management of the brand portfolio itself, as well as determining the instances and nature of the potential infringement. Leading trademark attorneys are also effective advocates who can provide advice and advice on how to deal with the infringement, through an amicable resolution or enforcement action if necessary.
Therefore, choosing the best law firm that is qualified to provide sound legal advice on copyright and trademark matters is a critical issue for any business enterprise. Good advice can mean a strong brand in the marketplace that serves to protect capital investment and deter infringement by competitors. The alternative is the erosion of goodwill with customers and easy breach. The latter can mean the loss of a fortune in human and financial resources.
