Trademarks are an essential element when developing a brand. Almost anything can be trademarked, such as a brand name, product, slogan, and even your own name. It ultimately protects your newly-developed brand from infringement on its identity, so another individual or company never compromise the image and integrity of your hard work and company. If you are considering submitting an application, learn more about the six biggest benefits of a trademark.
- Permits the Use of the ® symbol
Do you want to establish your company as a serious, professional brand? You should certainly consider applying for a trademark, which grants the right to use the ® symbol for either goods or services listed in the trademark registration. You can, however, use the “TM’ superscript for unregistered marks. They can ultimately provide your products with market prestige, which can encourage confidence in your business, products, and services while proving to your competitors that you are passionate about your branding and what you offer to your target audience.
- Discourage Infringers
Prevention can be the biggest benefit of a trademark, as it will prove to others that you take your brand’s integrity seriously and you are willing to go to great lengths to protect it. It can, therefore, discourage others from copying your branding, name, logo, or catchphrase, so your brand will not be compromised.
- Monetary Compensation
Brand infringement can result in reputational and financial damage, which can negatively impact a business. A trademark not only grants a business the right to use the registered trademark symbol, but it allows them to file a trademark infringement lawsuit in federal court with legal assistance. Hiring lawyers such as the experts at Revision Legal can potentially help your brand obtain monetary compensation for damages, costs, and infringer’s profits that have come at a cost to your business.
- Entitlement to Statutory Damages
If you have a registered trademark, you will not need to demonstrate actual damages to you or your business to receive monetary compensation. A registered trademark automatically entitles you to statutory damages following a counterfeit so that you can recover some of your lost finances following the infringement.
- Worldwide Protection
Registering for a US trademark will not only prevent local or national competitors from copying your brand, but it can also provide a solid basis for foreign trademark registrations. A US trademark can stand you in good stead for the protection of your marks when expanding your brand internationally.
- Block Goods Infringing on Your Mark
Many counterfeiters and copycats might attempt to sell products in the US, which can negatively impact your company’s reputation. A registered US trademark can ultimately empower the US Customs and Border Protection to legally block any imports that violate your intellectual property rights. What’s more, any counterfeits found following your registration can be separately recorded with Customs, who will be on your side to prevent any infringement on your mark, which will come at no extra cost to you.