When Should Your Small Business Register its Trademark?
This question gets asked to me time and time again. When should my small business register its trademark? And I’ll give you the lawyerly answer, which is, it depends. I’ve recommended many of my clients to wait, but I’ve also recommended clients to start before their business even opens. If you aren’t sure if it’s time to register your trademark, use the following factors below, and see if any of them applies to you.
You’ve chosen a name that you don’t want anyone else to have
I have seen it so many times. Someone comes up with a name that they worked really hard to create, and soon enough, someone else starts using it. Now they’re trying to trademark it, and you have to battle over the name. If you had registered the trademark, you would already have the exclusive rights. Thus, the other company would have to choose another name. So if you are totally in love with a name and you CANNOT let it go, then do a search on Google and social media to make sure that name hasn’t already been taken. If it hasn’t been taken or you don’t think it’s been taken, then you can move forward to the next steps to register your trademark.
Your name is in the media
If you or your business has gone viral, then it’s time to move forward with the trademark process. As much as I deplore the family, the Kardashians do this ALL THE TIME. If anything they do goes viral, they try to cash in so that other people can’t use their trademarks for monetary gain. Registering your trademark takes about a year, so it’s definitely not something that happens overnight. But people are waiting on the sidelines to cash in. I covered a story on Instagram about Meg Thee Stallion trademarking “Hot Girl Summer,” but there was already someone who filed first. So now Meg Thee Stallion has to wait in line for her application to hit the trademark examiner’s desk. It sucks, but that’s how it goes in the trademark streets. Going viral happens in a snap second, so you want to be ready to file when it does.
Your business is sustaining itself
Many people don’t want to invest in their trademarks when they first open their business. The most common factors are not sure about keeping the name or your small business is unable to afford to register your trademark. If you don’t even know if you are going to keep the same name, why invest if you’ll have to pay for the new trademark? But the more common reason is that most small businesses can’t afford to trademark when they first open up shop. However, if you are consistently turning a profit that is actually sustaining your business, then it’s time to start looking into the trademark process. This means that people are actually buying from you. When your business is sustaining itself, more than likely, more companies are going to want to work with you. These companies are using you for your brand reputation. When your small business registers its trademark, these companies are going to take you more seriously and are more willing to invest in any collaborations that you do.
I believe that everyone should start looking into trademarking sooner rather than later. Even if you don’t register immediately, you will have some knowledge of how the process works and the costs. At that point, you can build a plan around it.
If you are ready to start the trademark process, use the form below. Wilson Murphy Law will be in touch shortly after.