So you are thinking about starting a new company. But before you market your products/services to the public, you need to decide on a name. This company is your pride and joy and you feel very personally close to it. It'd only make sense to use your name or a combination of it for the company, right? Maybe not.
Before you pick a name that will become an essential part of your branding, you may want to take a second to evaluate your options. We've all seen the common names out there: John's Bagels, John Smith's Clothing Shop, The Smith Music Group. But what happens when John Smith decides to sell his business? His brand is likely sold as a result of this transaction and, if he's used his own name for the brand, he may no longer have control over what products are marketed through his name.
Even if the company is not sold, it may branch out to new markets. John's Bagels may turn into a cafe and John Smith's Clothing Shop may start offering a more "tailored" personal shopping experience. The old names may not necessarily reflect the new services. Therefore, it's important to think about your short and long term goals and pick a name that you can ideally use for the life of the business.
Another factor to consider is copycats and imposters. As we all know, success breeds competition. Soon, others may want to use your mark to try and take advantage of your reputable goods/services. So once you pick the perfect brand name, you should start thinking of ways to protect it. Trademarking offers wonderful protections. Once you have registered your name, you are in essence putting everyone else on notice that you own that name and/or logo. Therefore, no one can use your name or a "confusingly similar" variation in the same market. This empowers you to continue conducting your business without the fear of copycats as well as securing your brand on social media.
How do you know a name is available for use? An experienced trademark attorney can conduct several trademark clearance searches to make sure nobody is using your desired name on a state, national or even global level. Once cleared, the attorney can help you register your name and logo with the United States Patent and Trademark Office and conduct frequent searches to make sure nobody is infringing on your intellectual property rights.
Questions? Give the Formation Law Group a call at (424) 256-6614 or send us a line through info@formationlaw.com.
