By: Sylvia Mulholland, Attorney
Law Office of Sylvia Mulholland
The economy is sluggish (did I hear “comatose’”?), to say the least, and as small business owner, you are probably not only trimming or cutting, but slashing and burning when it comes to expenses. However, skimping on researching and protecting your valuable intellectual property rights can be a mistake that could dog you for years.
Think you’ve got a great product or service that, even in these challenging times, is a sure fire winner? And do you absolutely love the name you’ve come up with over a few brews in a late night Scrabble session with your buds? Well, before you rush off to register your domain name, print out flyers, post signs on every lamp post from the Palisades to Playa del Rey and haul up your flashy new neon sign, you might want to find out if someone has thought of that terrific name first. And not only thought of it, but registered it as an exclusive Federal trademark. That means it’s enforceable anywhere in the United States. How could this impact on your new or existing business?
Starting with a nasty letter from the registered trademark owner’s attorneys, you could find yourself, red-faced, taking down that brilliant neon sign, cancelling your advertising, and turning over (what we in the legal biz refer to by the evocative term “disgorging”) your hard-earned profits from the sale of your goods or services under your beloved name, now called an “infringing trademark.”
Coming up with a great business name and/or trademark is not as easy as it seems. Competition is tough, and battles over an appealing mark that grabs consumer attention can get ugly. If you don’t want to incur the costs of registering your new trademark, at least obtain an opinion as to whether it is registrable, and does not already belong to someone else. In other words: Caveat Venditor. Let the seller beware. Be sure to get your ducks in a row before you parade them off to market!
[Note from HandelontheLaw.com: This article is to be used as an educational guide only and should not be interpreted as a legal consultation. Readers of this article are advised to seek an attorney if a legal consultation is needed. Laws may vary by state and are subject to change, thus the accuracy of this information can not be guaranteed. Readers act on this information solely at their own risk. Neither HandelontheLaw.com, or any of its affiliates, shall have any liability stemming from this article.]
